Ella 
The Australian dollar broke its two-day winning streak in early Asian trading on Wednesday. AUD/USD is facing some follow-through selling after reaching the 0.6380 level. AUD/USD is currently trading around the 0.6360 level, with an intra-day decline of 0.07%.
Earlier on Wednesday, Reserve Bank of Australia Governor Bullock said that the central bank will take policy action if inflation continues to be higher than expected. Bullock also said that they are more concerned about the impact of supply shocks on inflation.
On Tuesday, the U.S. Census Bureau reported that U.S. retail sales rose 0.7% on a monthly basis in September, beating expectations of 0.3%. The control group of retail sales rose 0.6% month-over-month, compared to a 0.2% increase in the previous month. The data points to strong consumer momentum. U.S. economic data is improving and the dollar is rising, but the impact is short-lived.
Market participants will get more clues from Wednesday’s Fed speakers, including Waller, Williams and Bowman, which could provide some signals on the path of future monetary policy. Hawkish comments from Fed officials could increase demand for the US dollar and be negative for the AUD/USD.
