Title: AUD/USD drops below 0.7700 as USD starts to gather strength ahead of key data

Jun 15, 2021 8:57:34 AM GMT

By: AnalysisWatch

• AUD/USD edges decrease after remaining flat on Monday.

• US Dollar Index climbs above 90.60 throughout European session.

• Eyes on Retail Sales, PPI and Industrial Production statistics from US.

The AUD/USD pair got here beneath Neath modest bearish strain on Tuesday and dropped to its lowest stage in 10 days at 0.7685. As of writing, the pair become down 0.28% on an everyday foundation at 0.7690.

Eyes on US statistics

The USD's marketplace valuation maintains to effect AUD/USD's actions on the begin of the week. The US Dollar Index, which moved sideways round 90.50 on Monday, received traction throughout the European buying and selling hours and become ultimate visible buying and selling maximum stage in a month at 90.63, growing 0.15% at the day.

Later the session, May Retail Sales and Producer Price Index (PPI) statistics from the United States might be seemed upon for sparkling impetus. Additionally, the United States Federal Reserve will launch the Industrial Production and Capacity Utilization figures.

Meanwhile, Wall Street's major indexes appearance to open close to Monday's remaining tiers with the Dow Futures and the S&P Futures each staying flat beforehand of the outlet bell.

Earlier the day, the Reserve Bank of Australia's June assembly mines discovered that the board agreed it might be untimely to do not forget ceasing the bond-shopping for program. "Policy could want to stay tremendously accommodative to attain complete employment," the guide study and the careful tone made it tough for the AUD to discover demand.

On Wednesday, the Westpac Leading Index might be the handiest statistics featured the Australian financial docket.