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AUD to USD Forecast: Aussie Dollar Eyes Budget Impact amid RBA Rate Speculations
On Tuesday (May 14), the Australian government’s presentation of the 2024-25 Budget will put the investor focus on the AUD/USD. On Sunday, Treasurer of Australia Jim Chalmers stated that the new Budget would ease household pressure without driving inflation higher. Significantly, the government forecasts for inflation suggested the need for a less hawkish RBA rate path. The government forecasts inflation returning to the 2-3% range by the end of 2024, not 2025. However, the government had less optimistic forecasts for the Australian economy. The Budget will likely influence market sentiment toward the RBA rate ... (full story)