AUD/USD Hangs On Above 0.66 as Aussie GDP Looms 🔍

The Aussie Dollar's sticking above 0.6600 against the USD. Trading at 0.66030 now. Traders seem to be waiting for Australia's Q2 GDP numbers. Dipped a bit earlier. Bounced back some as the Greenback lost steam after US trading.

Today's slight recovery follows a five-day low. Down 0.22% in 24 hours. The Dollar Index sits near 98.30. Not far from its recent peak 📊

US manufacturing data came in mixed. ISM showed factories still struggling. Production weak. Employment too. New orders looked better though. Prices rising. Kind of surprising how these contradictory signals kept the USD from climbing too much. Gave the risk-loving Aussie a chance to breathe.

Everyone's eyes now on Wednesday's Australian data dump 🗓️ GDP might grow 0.5% quarter-to-quarter. Better than Q1's 0.2%. Yearly growth possibly hitting 1.6%, up from 1.3%. Some big banks aren't so optimistic. Government spending looks soft. Households and private investment? Not entirely clear, but signs look decent.

More than just GDP coming. AiG Industry Index and PMIs too. The whole economic picture 🏭🏢

These numbers will shape what people think about RBA policy. Markets are pricing in a November cut. Maybe down to 3.35% from 3.60%. Strong GDP? Less pressure to cut. Weak numbers? Rate cuts might speed up 📉

For AUD/USD watchers, these days matter. Can the Aussie stay above 0.6600? Or will it slide? We'll see 🚀

Aussie sentiment feels fragile. It's caught between local growth hopes and changing US rate outlooks. Global risk mood matters too 🌍