Wall Street ended Monday’s session with a mixed tone as traders turned cautious. Eight Federal Reserve speakers would cross the wires during the week, while the release of Durable Goods Orders could support the Fed’s doves as orders are estimated to have plunged in January. Besides that, housing data and Consumer Confidence can reemphasize the Fed’s need to cut rates later in the year. Late in the week, the Fed’s preferred gauge for inflation, the Personal Consumption Expenditure (PCE) will update the inflation status and could rock US Treasury bond yields as expectations for rate cuts can adjust.
On Australia’s front, the economic docket is absent as AUD/USD traders brace for Tuesday's release of inflation figures for the last quarter of 2023. The day after that, investors are eyeing the release of housing data, retail sales, and credit data.
The AUD/USD has remained pressured as Iron ore prices fell to their lowest in four months, as inventories in China pile up, amid the struggle of the property market.
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