The Australian Dollar (AUD) surged toward July highs amid strong GDP and household spending figures. This positive data fosters optimism regarding the Reserve Bank of Australia’s stance on interest rates.

Analysts expect a moderate uptrend for AUD, yet warn of short-term USD strength that could pull the AUD/USD pair back toward the 0.65 mark before continuing its ascent. Traders should be aware of these fluctuations for informed trading decisions ahead.