• AUD/USD extended its decline in Monday's session as market gears up for RBA decision.
• Federal Reserve's projection of higher interest rates continues to bolster the USD.
• Australian and American economic calendars remain empty on Monday.

The Australian Dollar (AUD) experienced additional losses against the US Dollar (USD) on Monday as markets gear up for Tuesday’s Reserve Bank of Australia (RBA) decision.

The Australian economy shows some signs of weakness, but stubbornly high inflation is prompting the RBA to delay cuts, which may limit its decline. The RBA's meeting concludes on Tuesday when investors will look for further clues. Markets are pricing in the first rate cut only for May 2025.