AUD/USD aims to recapture 0.6800 as cooling US inflation amplifies Fed rate-cut bets
07/12/2024 11:01:44 GMT|BySagar Dua![AUD/USD aims to recapture 0.6800 as cooling US inflation amplifies Fed rate-cut bets AUD/USD aims to recapture 0.6800 as cooling US inflation amplifies Fed rate-cut bets](https://editorial-fxstreet-com.cdn.ampproject.org/ii/AW/s/editorial.fxstreet.com/images/Markets/Currencies/Majors/AUDUSD/focus-on-finances-8495984_Small.jpg)
- AUD/USD remains firm as the US Dollar weakens due to easing price pressures.
- Soft US inflation data for June boosts Fed rate-cut prospects.
- The Australian Dollar will dance to the tunes of the outcome of China’s third plenum meeting.
The Aussie asset aims to recapture the round-level resistance of 0.6800 as the US Dollar (USD) is under severe pressure due to growing speculation for the Federal Reserve (Fed) to start lowering interest rates from the September meeting.
The expectations for Fed rate cuts swell after the United States (US) Consumer Price Index (CPI) report for June signalled that progress in disinflation has resumed after stalling in the first quarter of this year.
Annually, the headline inflation decelerated at a faster pace to 3.0% and the core CPI, which excludes volatile food and energy items, unexpectedly declined to 3.3%.