Australia’s inflation data for the first quarter displayed signs of resilience, yet market indicators suggest weakening demand pressures that leave traders wary. The current climate has prompted expectations for multiple interest rate cuts from the Reserve Bank of Australia (RBA) as we approach 2025. However, external risks, particularly concerning economic developments in the U.S. and China, contribute to a cautious stance from the RBA. This uncertainty creates a challenging environment for the AUD/USD pair, which struggles to gain upward momentum in this mixed fundamental landscape. Traders must navigate these shifts carefully as they plan their market strategies.