The AUD/USD daily forecast is looking to key economic indicators to drive market sentiment. Retail sales data and the US Personal Consumption Expenditures (PCE) Index are expected to have a significant impact on the currency pair.
Investors will be closely watching the retail sales figures, which provide insight into consumer spending patterns. A strong retail sales report could indicate a healthy economy, boosting the Australian dollar against the US dollar.
Additionally, the US PCE Index, which measures inflation and consumer spending, will also play a role in determining market sentiment. Any surprises in the data could lead to volatility in the AUD/USD pair.
Traders are advised to keep a close eye on these economic indicators and adjust their trading strategies accordingly. The outcome of these reports could have a significant impact on the direction of the AUD/USD pair in the coming days.