$AUDUSD Forex Signal: More Downside as Focus Shifts to US Congress
US inflation and debt ceiling deal
Therefore, there is a likelihood that the Federal Reserve will likely continue hiking interest rates in its June meeting. Minutes published last week showed that some Fed members were comfortable with higher rate hikes. Meanwhile, there are signs that the debt ceiling deal hammered between Democrats and Republicans during the weekend. The deal will see the US raise the debt ceiling until 2025 and set caps on non-defense spending.
There will be no catalyst for the AUD/USD pair on Monday, with the US markets being closed for the Memorial weekend.
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