AUD/USD holds positive ground near 0.6525, adding 0.16% on the day. The US PCE was up 2.5% YoY in February, in line with the market consensus. The Chinese NBS Manufacturing PMI improved to 50.8 in March against 49.1 prior. It's a holiday in Australia for Easter Monday, and the market is likely to be mute. Investors will keep an eye on the US ISM Manufacturing Purchasing Managers Index for fresh impetus, which is expected to improve to 48.4 in March from 47.8 in February.
The Fed Chairman Jerome Powell said on Friday that the recent US inflation data was along the lines of what we would like to see, and it kept the Fed's baseline for interest rate cuts this year intact. Fed officials continued to pencil in three rate cuts this year. Investors expect the first rate cuts will come at the June meeting. On the Aussie front, the encouraging Chinese PMI data might cap the downside of the China-proxy Australian Dollar .
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