• AUD/USD hovers at 0.6533, with US economic strength and upcoming PCE Price Index release setting the tone.
• Recent US durable goods orders exceed expectations, but consumer confidence dips slightly in the face of inflation concerns.
• As Fed officials express divergent views on rate cuts, market eyes turn to Australian CPI data for further direction.

The Aussie Dollar remains flatlines against the US Dollar as Wednesday’s Asian session begins. On Tuesday, the AUD/USD pair, reached a daily high of 0.6559 before retreating 0.11%. At the time of writing, the pair trades at 0.6533 virtually unchanged.

Aussie Dollar steadies as traders digest US durable goods data and brace for key inflation indicators

Wall Street ended the session with losses as a late risk-off impulse sent US equities lower. Traders are bracing for the release of the US Federal Reserve's preferred gauge for inflation, the Core Personal Consumption Expenditure (PCE) Price Index, which is expected to slow from 0.4% to 0.3% MoM and increase from 2.4% to 2.5% in the twelve months to February.

Meanwhile, AUD/USD traders were entertained by the release of the US Durable Goods Orders for February. Readings came at 1.4% Month over Month, exceeding forecasts of 1.1% and January’s -0.9% plunge. The core Durable Goods Orders stood at 0.4% Month over Month, up from -0.3% and above the consensus of 0.4%.

Other data revealed by the Conference Board (CB) showed that Consumer Confidence was steady in March, yet it ticked down to 104.7 from 104.8, a downward revision from the previous month. The survey showed Americans blaming higher prices and soaring borrowing costs.t

The Greenback was underpinned throughout the session, weighing on most G8 Forex currencies, including the Aussie Dollar (AUD). The US Dollar Index (DXY), which tracks the performance of a basket of currencies against the buck, rose 0.07% to 104.29.