AUD/USD: watching consumer inflation expectations - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the Aussie edged modestly higher against it American rival, although the pair failed to settle above the 0.7400 figure, despite several intraday attempts.

Key Quotes:

"The Australian dollar benefited from gold's gains, as spot advanced up to $1,287.13 a troy ounce, but the negative mood among investors limited the antipodean currencies' gains. After starting the week with a holiday, Australia will release its consumer inflation expectation for June during the upcoming hours. Poor inflation figures where behind the RBA's surprise rate cut, and the almost 600 pips decline in the AUD/USD pair last May, meaning that, if  current expectations are below market's forecast, the pair may plummet on speculation about an August rate cut."