Ella 
AUD/USD is trading higher following the release of Westpac’s consumer confidence index on Tuesday. The Westpac Consumer Confidence Index recorded a monthly rate of -0.3% in May, compared with -2.4% in April. This is the third consecutive month of decline for the index, but also the smallest consecutive month of decline.
The Australian dollar may find support as China announces a sweeping package to support its struggling property market, including easing mortgage rules and urging local governments to buy unsold homes. This could boost sentiment for the Australian dollar, as both China and Australia are close trading partners.
The U.S. dollar pair held steady as no important U.S. economic data was released. Higher U.S. Treasury yields provided support for the dollar. The Fed remains cautious on inflation and the prospect of a rate cut in 2024.
