Australian Dollar futures consolidate as traders await PCE data.

The Australian Dollar futures found some sideways price action after recently coming off of an 11-month high. This consolidation is a result of traders digesting recent central bank activity and awaiting key inflation data, specifically the Personal Consumption Expenditures (PCE) report, which is the Fed's preferred inflation measure. The U.S. dollar has found support from rising rates on the back end of the curve, contributing to some selling pressure in the Australian Dollar. Other major FX futures markets are also trading in a tight, sideways range as they await more data.