AUD/USD adds to Friday’s gains north of 0.6600. The weak tone in the Greenback supported the pair’s uptick. Australian flash Retail Sales are due on Tuesday. The continuation of the selling bias in the US Dollar helped AUD/USD extend its recovery further north of 0.6600 the figure in a quite positive start to the new trading week.
The RBA's economic forecasts suggest that inflation will remain high until Q2 2025, driven by service price inflation, before returning to the 2%–3% target range by late 2025 and reaching the midpoint by 2026. Investors currently anticipate the RBA will keep its Official Cash Rate unchanged at its June 18 meeting, with no rate cuts expected this year.
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