Ella 
The Australian dollar (AUD) extended its winning streak for the third day in a row after better-than-expected consumer price index (CPI) data was released on Wednesday. The upbeat inflation data is likely to fuel the Reserve Bank of Australia’s (RBA) hawkish sentiment on the outlook for monetary policy. This prompted the Australian dollar (AUD) to strengthen, providing support for AUD/USD.
The Australian dollar (AUD) is higher, tracking gains in the ASX 200 index, with technology and healthcare sectors contributing significantly. The Australian share market mirrored Wall Street’s positive momentum as sentiment surged on the back of strong corporate earnings reports.
The U.S. Dollar Index (DXY), which measures the U.S. dollar against six major currencies, is under downward pressure as U.S. Treasury yields fall. Additionally, disappointing US Purchasing Managers Index (PMI) data put downward pressure on the US Dollar (USD), supporting AUD/USD. Inflation reports, however, showed U.S. business activity continued to expand in April, albeit at a slower pace than in March.
