With Australian leading indicators pointing firmly downward, and US economic data still remaining solid, we expect relative rates and growth to weigh on AUD/USD going forward. 

AUD/USD remains firmly in the hands of global risk sentiment, where the outlook for inflation and rate cuts remains a key driver. 

We generally think that the Fed will opt for a more gradual pace for rate cuts, which will be a supportive factor for broad USD. We maintain our downward-sloping forecast profile unchanged.

AUD/USD Forecast: 0.6600 (1M), 0.6400 (3M), 0.6300 (6M), 0.6200 (12M)