AUD/USD Uptrend Ahead of FOMC Meeting as Macro Data Looms

The AUD/USD pair has been in an uptrend ahead of the upcoming Federal Open Market Committee (FOMC) meeting. The pair jumped to 0.7127 on Monday and has held steady above the June low of 0.6868.

Investors are waiting for key macro data from Australia, including industrial and manufacturing production, pending home sales, housing starts, and building permits. These numbers will provide more information about the state of the US economy and impact the next Federal Reserve actions.

The Australian statistics agency will publish the latest Wage Price Index (WPI) report on Wednesday, which is expected to show a 0.8% increase in the second quarter. Rising wage growth often leads to more inflation pressure.

On Thursday, investors will react to the upcoming Australian jobs numbers, which will help the Reserve Bank of Australia (RBA) make its next interest rate decision.