The AUD/USD pair edges higher to 0.6632 during the early Asian session on Monday.
AUD/USD kicks off the new week on a positive note around 0.6632 on Monday. The US Durable Goods Orders came in better than expected; the UoM Consumer Sentiment Indexwas abovethe consensus. The hawkish stance of the RBA might support the Aussie in the near term ahead of Australiankeydata this week. Theuptick in the pairis supportedby thesofter US Dollar .The Australian Retail Sales and Consumer Price Index will be the highlightthis week. On Friday, US Durable Goods Orders rose by 0.
The financial market moved away from the chance of a policy easing in September andnowexpecting just one cut by the end of the year. On the Aussie front, inflation in Australia is stubbornly high, which prompted the Reserve Bank of Australia to consider hiking interest rates at its latest board meeting.This, in turn, lifts the Australian Dollar and creates a tailwind for the AUD/USD pair.Apart from this,the preliminary Australian Judo Bank Manufacturing remained unchanged at 49.
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