AUD/USD continues its decline, nearing August lows.
US headline inflation accelerated to 2.6% in October from 2.4% in September, while core CPI grew by 3.3%.
Australia's October employment data is expected to show a modest increase in jobs added.
The AUD/USD declined by 0.69% to 0.6490 in Wednesday's session. AUD/USD hovers slightly below 0.6500 after the US inflation data for October. The US headline inflation and core CPI showed no surprises, while focus now shifts to Australia's October employment data is expected to show a modest increase in jobs added.
The Australian dollar has declined due to the strength of the US dollar, supported by positive economic indicators and increased confidence. Australia's central bank maintains a neutral stance, signaling a potential rate cut in mid-2025, providing support for the Aussie.
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