The AUD/USD pair has bounced back as the US Dollar relinquishes its intraday gains. Market sentiment remains uncertain ahead of Fed Powell’s speech. In June, RBA officials considered tightening policy further but ultimately kept interest rates unchanged. The Aussie asset has recovered as the US Dollar retreats amid anticipation of Powell’s speech. Investors are eagerly awaiting cues on when the Fed will begin reducing interest rates. The US Dollar Index has dipped to around 105.80 as S&P 500 futures show significant losses. Fed Powell’s speech will provide insights into the timing of rate cuts, with the NFP data for June being a major focus for the US Dollar later in the week. The RBA minutes from the June meeting were hawkish, hinting at potential interest rate hikes due to higher inflation. However, the OCR remains unchanged at 4.35% for now. Investors anticipate a possible reduction in interest rates starting in April 2025. The RBA Meeting Minutes offer a detailed account of policy discussions and individual votes, influencing market perceptions of inflation and potential rate increases.