The AUD/USD dropped on Wednesday amid a modest recovery of the US Dollar, particularly after wholesale US inflation data. The Greenback is holding ont
AUD/USD Current Price: 0.6410 US Dollar stabilizes after days of declines, fails to rally on hotter US PPI. Attention turns to the US Consumer Price Index on Thursday. The AUD/USD held above a short-term uptrend line; technical indicators favor some consolidation. o recent losses but showing signs of stabilization ahead of crucial US consumer inflation figures.
The minutes keep the door open to one more rate hike while also indicating that some members consider no more hikes are needed. The release of the Consumer Price Index on Thursday will be crucial. The annual rate is expected to slide from 3.7% to 3.6%. A sharp increase would significantly boost expectations of another hike. Jobless Claims data is also due on Thursday.
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