AUD/USD rebounds from this year lowest level

Australian dollar rose during the Asian session, witnessing its rebound for the third consecutive session from its lowest since January against the US dollar, amid a lack of economic data earlier this week by the Australian economy and on the threshold of developments and economic data expected today by the US economy, the largest economy in the world.

As of 02:18 GMT, AUD/USD rose 0.26% to $0.7053 compared to the opening levels of $0.7043, with a high of $0.7055 and a low of $0.7035.

Investors are currently looking for the US economy to release the Expenditure and personal income data, which may reflect an accelerated growth in personal spending to 0.7% from 0.1% in February, and an accelerated growth personal income to 0.4% from 0.2%. While the Personal Consumption Expenditure Index may show a rise of 0.3% against a 0.1% decline, while the annual reading of the same index may show an accelerated growth to 1.6% vs. 1.4%.