AUD/USD STALLS AHEAD OF RESERVE BANK OF AUSTRALIA’S DECISION

• AUD/USD steady at 0.6624; focus on upcoming RBA decision, quiet US data, and UK bank holiday.
• Wall Street ends higher, driven by optimism over potential Fed rate cuts.
• ANZ analysts anticipate RBA will hold rates, possibly adopting a hawkish stance due to inflation trends.

The Australian Dollar registered minuscule gains compared to the US Dollar as traders braced for the Reserve Bank of Australia (RBA) monetary policy meeting. A scarce economic docket in the United States (US) and a bank holiday in the UK were the main drivers behind the “anemic” AUD/USD price action. At the time of writing, the pair trades at 0.6624, virtually unchanged.