• AUD/USD plummets as US Dollar strengthens on upbeat data and economic sentiment.
• Australia's central bank maintains neutral stance, hinting at potential rate cut in May 2025.
• Mixed confidence indicators and upcoming economic data keep AUD/USD under scrutiny.

The AUD/USD plunged in Tuesday's session, declining by 0.66% to 0.6535. The Australian Dollar's weakness stemmed from a strengthening US Dollar. Despite maintaining a neutral stance, Australia's central bank hinted at a possible rate cut in May 2025, and that delay might keep the Aussie afloat.

The AUD/USD weakened due to US Dollar strength, bolstered by Republican election wins and positive US data. Australia's employment report to be released later this week is expected to influence the RBA's December policy decision and its next steps.