Ella 
The Australian dollar fell for a third day on Monday amid broad-based strength in the U.S. dollar. Expectations that the Federal Reserve will keep interest rates elevated for longer remain well supported for the dollar, with the median forecast of a rate cut this year among Fed officials.
In addition, the latest Chinese economic data was mixed, with some challenges in the operation of the Chinese economy, which could put some selling pressure on the Australian dollar as China accounts for a third of Australia’s exports. Investors will be closely watching the Reserve Bank of Australia’s (RBA) interest rate decision on Tuesday and a press conference by Governor Michele Bullock. The RBA’s hawkish stance could boost the Australian dollar and limit the downside for AUD/USD in the short term. In the U.S., retail sales for May will be released and are expected to increase to 0.3% from 0% in April.
