Ella 
AUD/USD fell 0.35% on Monday amid mixed market sentiment and rising US Treasury yields. AUD/USD price action was largely driven by investors preparing for important economic data from the US and Australia, even as the greenback fell sharply. Nonetheless, AUD/USD is trading at 0.6538, down 0.03% as the Asian trading session begins.
U.S. stocks ended mixed on Monday as traders turned cautious. Eight Fed spokesmen are set to speak this week, and the release of durable goods orders could bolster the Fed’s dovish view as orders are estimated to have fallen sharply in January. In addition, housing data and consumer confidence index will once again highlight the need for the Federal Reserve to cut interest rates later this year. Later this week, an update on inflation from the Fed’s preferred inflation gauge, personal consumption expenditures (PCE), could shake Treasury yields as expectations for a rate cut may adjust.
From Australia, where there are no economic data releases, AUD/USD traders prepare for Tuesday’s inflation data for the final quarter of 2023. Over the next day, investors will be watching for the release of housing data, retail sales and credit data.
AUD/USD continues to be under pressure as iron ore prices hit a four-month low as China’s inventory piles up and the property market struggles.
