The Australian Dollar (AUD) looks to snap a two-day losing streak against the US Dollar (USD) after Australia’s inflation data release, which showed a
n expected rise in August. However, the AUD/USD pair is failing to capitalize on hot Australian Consumer Price Index inflation data due to risk aversion. The decline in commodity prices is capping the upside in the AUD.meeting suggested that if inflation proves to be more enduring than expected, there may be a need for further tightening.
Moreover, most members of the US Federal Reserve still anticipate further interest rate increases later in the year, which could be attributed to robust economic activities in the US. The Market participants will focus on Australia’s Retail Sales for August on Thursday, which is expected to grow by 0.3% lower than the previous rate of 0.5%.
Building Permits improved to 1.541M in August from 1.443M prior. While the House Price Index for July rose to 0.8% compared to the market expectations of 0.5% from the previous rate of 0.4%. Technical Analysis: Australian Dollar hovers around 0.6400 psychological level, barrier at 21-day EMA
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