The AUD/USD pair finds some support above the 0.6500 mark during the early Asian session on Monday.
AUD/USD trades on a weaker note near 0.6512 in Monday’s early Asian session. Fed’s Powell said officials want to feel more confident that inflation is headed toward the central bank’s 2% target before cutting the rates. The further positive development surrounding Chinese macro policy could lift the Aussie. The Australian February CPI inflation data and US Q4 GDP numbers will be in the spotlight this week. The pair edges lower amid the further gains of the US Dollar .
The Chinese government will issue ultralong special treasury bonds worth one trillion yuan, which will effectively support investment and stabilize economic growth. Furthermore, the Chinese authorities will work to prevent system risks and push for long-term and healthy development of China's economy. The further positive development surrounding Chinese stimulus measures and macro policy could boost the China-proxy Australian Dollar against the Greenback.
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