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Australian Dollar Daily Chart
In the US session, better-than-expected US data could dampen Fed rate cut bets. A widening in the US-Aussie interest rate differential, favoring the US dollar, could drag the AUD/USD pair toward $0.63.
Conversely, following Friday’s US Services PMI drop below 50, softer data could boost expectations for an H1 2025 Fed rate cut. A narrower interest rate differential may drive the AUD/USD pair through $0.64 to target the 200-day EMA.
Beyond the US data, traders should monitor US tariff developments. With a trade-to-GDP ratio exceeding 50%, sweeping US tariffs could affect Aussie exports, its economy, and Aussie dollar demand.
