The AUD/USD pair has reached a ten-week high.

The Australian dollar, in conjunction with the US dollar, is exhibiting a robust performance, with the current AUD/USD exchange rate standing at 0.6572.

The resilience of the Aussie can be predominantly attributed to the weakness observed in the USD, which is displaying sluggishness in the broader market. Investors are eagerly awaiting the release of US Core PCE statistics later this week, hoping to gain insights into the future moves of the Federal Reserve.

This week, Australia is set to unveil retail sales statistics for October, with expectations of a modest 0.2% m/m increase compared to the previous 0.9% surge in September. Additionally, reports on building permits for October, private new capital investments for Q3, and the manufacturing PMI are anticipated.

The news emanating from China is maintaining a neutral stance, providing support for the Aussie to sustain its upward trajectory, among other factors.

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