Australian Dollar Rate Today - AUD Starts the Week Strong After Previous Decline. Although the US Dollar (USD) has weakened slightly, the AUD/USD pair rose on Monday due to an increase in US Treasury yields. Investors will be paying attention to the February CPI data for Australia and the fourth-quarter 2023 GDP for the US.
 
The Australian Dollar gained as the ASX 200 index surged, particularly in the mining and energy sectors. Support also came from a strong Chinese Yuan (CNY), with the People's Bank of China setting domestic yuan interest rates higher than expected.
 
The DXY experienced a correction after reaching a five-week high. The US Dollar may come under pressure due to expectations of a Fed easing cycle starting in June. Powell from the Fed reassured the market regarding rising inflation, emphasizing that the central bank would not rush to respond to inflation increases.
 
Market Movers Today: The Australian Dollar rose thanks to the strengthening of the CNY and ASX 200, while Australian employment data showed a significant spike. In China, the Prime Minister mentioned that low inflation provides room for policy adjustments. Powell from the Fed indicated that rising unemployment could influence interest rate decisions. Global PMI slightly declined, while US unemployment claims were below expectations.
 
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