touched the previous day. The pair is currently placed around the 0.7100 mark, nearly unchanged for the day, as traders look to the key US macro data for a fresh impetus.- is due for release in a short while from now. This might influence the US central bank's rate hike path, which, in turn, will drive the US Dollar demand and provide a fresh directional impetus to the AUD/USD pair. In the meantime, a goodish pickup in the US Treasury bond yields lends some support to the buck.
The modest intraday USD, however, lacks bullish conviction amid the prospects for a less aggressive policy tightening by the Fed. In fact, the markets are still pricing in a smaller 25 bpsrate hike move in February, which, in turn, keeps a lid on any meaningful upside for the greenback.
Friday's US economic docket also features the release of Pending Home Sales data and the revised Michigan Consumer Sentiment Index. This, along with the US bond yields and the broader market risk sentiment, might influence the USD price dynamics and provide some impetus to the AUD/USD pair. The focus, however, will remain glued to the outcome of a two-day FOMC monetary policy meeting, scheduled to be announced next Wednesday.