Q1 figures for Australian GDP are released on Wednesday, and if Q4 figures are anything to go by, it could be a lacklustre affair. If growth continues to soften, it further cements the case for the RBA to not hike, but we still seem no closer to them discussing cuts unless we see a material breakdown of incoming data. AUD/USD went on to rally 1.8% over the next two days after March’s GDP report, but that was thanks to dovish comments from Jerome Powell during his testimony to congress. US data remains a key driver for AUD/USD traders, as it directly influences expectations for potential Fed rate cuts, and the AUD ... (full story)