It’s worth noting that the receding fears of the banking crisis in the US and escalating US-China tension joined the firmer US Treasury bond yields to also propel the US Dollar Index, which in turn drowned AUD/USD prices. Furthermore, RBA’s pause to its rate hike trajectory in the last week also exerts downside pressure on the Aussie pair.

Amid these plays, Wall Street benchmarks closed mixed, with minor moves, whereas the other riskier assets like commodities and Antipodeans stay depressed of late.

Moving on, AUD/USD pair traders should watch Westpac Consumer Confidence for March ahead of China’s headline inflation numbers for the said month, namely the Consumer Price Index (CPI) and Producer Price Index (PPI). Given the dragon nation’s recent optimism, coupled with the downbeat mood in Australia, any disappointment from the inflation numbers of a major customer won’t be taken lightly by the Aussie pair traders. Above all, Wednesday’s US CPI and Fed Minutes will be crucial ahead of Thursday’s employment data from Canberra.