• Australian Dollar trades with mild negative bias in Tuesday’s Asian session.  
• The RBA is expected to leave the key interest rate unchanged at 4.35% for the fifth consecutive meeting in June. 
• If RBA’s Bullock retains her hawkish rhetoric during the press conference, this could lift the Aussie against the US Dollar. 

The Australian Dollar (AUD) loses ground on Tuesday on the modest rebound of the US Dollar (USD). The markets turn cautious ahead of the Reserve Bank of Australia (RBA) monetary policy meeting on Tuesday. The RBA is anticipated to hold the Official Cash Rate (OCR) steady at 4.35% for the fifth meeting in a row in June. Traders will take more cues from RBA Governor Michele Bullock’s press conference. The hawkish tone from the RBA statement could boost the Australian Dollar (AUD), while the failure to affirm the hawkish expectations could exert some selling pressure on the Aussie against the Greenback. 

Investors will keep an eye on US Retail Sales and Industrial Production for May. The Federal Reserve’s (Fed) Lisa Cook, Thomas Barkin, Adriana Kugler, Lorie Logan, Alberto Musalem and Austan Goolsbee are set to speak later on Tuesday. The stronger-than-expected data could boost the USD and create a headwind for AUD/USD.