The Australian Dollar (AUD) maintains its position on Monday, after registering losses in the previous two sessions. The AUD/USD pair gained ground following the announcement of a newly established trade agreement between the United States (US) and the European Union (EU).
Traders await further development on the meeting between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, scheduled on Monday in Stockholm.
The two countries are expected to extend their tariff truce by another three months, according to a source cited by the South China Morning Post (SCMP) on Sunday. It is important to note that any changes in the Chinese economy could impact the AUD as China and Australia are close trade partners.
Australian Q2 CPI data will be eyed on Wednesday as the data is critical for the next Reserve Bank of Australia RBA) interest rate decision. RBA Governor Michele Bullock committed last week to ensure that inflation stays low and stable moving forward. Bullock also noted ongoing uncertainty in the global economy.
Source: FXStreet
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