The AUDUSD is on the rise amid speculation about a potential rescue package for China's property market, but the rally could falter if the news proves to be false.
The majority of analysts expect the Consumer Price Index (CPI) to increase by just 0.3 percent in April 2024, a slowdown from the previous 0.4 percent.
Despite an increase in US unemployment claims, the US dollar remains resilient due to expectations of the Federal Reserve maintaining high interest rates.
The Bank of Japan's (BoJ) opinions suggest that many key members are advocating for a hike in Japanese interest rates, foreseeing a sustained or even surpassing inflation target.