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AUD to USD Forecast: RBA Minutes and US Labor Stats to Influence Market Sentiment
On Tuesday, the RBA was in the spotlight. The RBA Meeting Minutes from the less hawkish March policy meeting warranted investor interest. On Thursday, Aussie retail sales and the recent Monthly CPI Indicator raised bets on an RBA rate cut, impacting the AUD/USD. The RBA Meeting Minutes revealed a consensus that inflation was softening. Salient points from the RBA Meeting Minutes included, GDP growth had been below its historical trend, with consumption persistently weak. Labor market tightness eased. Inflation continued to soften in recent months, while services inflation remained elevated. Financial conditions for ... (full story)