Later today, the Philly Fed Manufacturing Index may drive US-Aussie interest rate differentials and AUD/USD trends.
A pickup in manufacturing sector activity may support the Fed’s wait-and-see stance, widening rate differentials favoring the US dollar. A wider rate differential could push AUD/USD toward $0.6450 and the 50-day Exponential Moving Average (EMA).
Conversely, a weaker print may revive recession fears, narrowing the rate differential. A narrower rate differential could send the pair toward $0.65500 and the June 16 high of $0.65517.
