• AUD/USD gains on soft US data and RBA’s hawkish outlook.
• RBA Bullock reiterates hawkish stance, signaling no near-term rate cuts.
• Monetary policy diveargence favors the Aussie as US data softens and RBA remains hawkish.

The AUD/USD pair traded in a tight range on Thursday but tallied daily gains after the USD was seen weak after mixed US data.

The Australian economy's uncertain prospects and the Reserve Bank of Australia's (RBA) aggressive stance on interest rates have led to a shift in market expectations. However, the bank hasn't yet embraced cuts in the near term.