The Australian Dollar stabilizes around 0.6900 USD after an eight-day decline as traders await key US inflation figures.
The Australian Dollar traded near 0.6900 USD on Thursday, consolidating after an eight-day losing streak that erased 2.5% of its value. The pair remains under pressure as markets focus on upcoming US inflation data for directional cues.
Prior to the recent slide, AUD/USD had peaked above 0.7100 in mid-July before retreating amid shifting expectations for Federal Reserve policy. The currency pair has struggled to regain momentum despite resilient domestic economic indicators.
Traders are adopting a cautious stance ahead of the US Consumer Price Index release, which could influence the Fed’s rate trajectory and broader USD strength.