Early Tuesday morning in Asia, at 01:30 GMT, the Reserve Bank of Australia (RBA) will release the minutes of the latest monetary policy meeting held in March.

The Australian central bank surprised markets by pausing its 10-time rate hike trajectory in the last monetary policy meeting. However, the policymakers have been trying to convince markets that they can renew the rate lift cycle, which in turn makes today’s RBA Meeting Minutes more important for the AUD/USD pair traders.

Apart from the RBA Minutes, China’s first quarter (Q1) Gross Domestic Product (GDP), expected 2.2% QoQ versus 0.0% prior, will also entertain the AUD/USD pair traders due to Canberra’s trading ties with Beijing. The data is up for releasing at 02:00 AM GMT and is scheduled to be joined by China Retail Sales and Industrial Production for March.

Ahead of the China data, Analysts at the Australia and New Zealand Banking group (ANZ) said, “Any weakness in key economic data, including fixed asset investment and industrial production in China will weigh on sentiment.”