AUD/USD FLAT LINES ABOVE 0.6500 AHEAD OF RBA MEETING MINUTES
- AUD/USD holds steady around 0.6505 in Monday’s early Asian session.
- The stronger US economic data and cautious comments from Fed officials might lift the USD.
- Trump's policies on taxes, tariffs could weigh on the Aussie.
The AUD/USD pair trades flat near 0.6505 amid the consolidation of the US Dollar (USD) during the early Asian session on Tuesday. Investors will monitor the Reserve Bank of Australia (RBA) Meeting Minutes, which is due later on Tuesday.
The US Dollar Index (DXY), which measures the USD against a basket of currencies, currently trades around 106.20 after retreating from a more than one-year high last week of 107.07. The Greenback struggles to gain ground as the Trump trade seems to lose momentum. However, the stronger US economic data and cautious remarks from the Federal Reserve (Fed) might cap the upside for the USD in the near term.
In a light week for US economic data, the National Association of Home Builders (NAHB) Housing Market Index climbed to 46.0 in November, the highest since April, from 43.0 in October, beating the estimation of 44.0.
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