AUD/USD: Pullback towards 0.7300 in sync with commodity prices, Lowe speech eyed

• AUD/USD has slipped near 0.7300 on a pullback in commodity prices.
• The antipodean has been outperforming despite a squeeze in the risk appetite of investors.
•  This week, comments from the RBA’s Lowe and US CPI numbers hold significant importance.

The AUD/USD pair has snapped three-days winning streak after witnessing significant offers near 0.7441. It seems that the antipodean has followed the footprints of the commodity prices and a pullback has been witnessed after a juggernaut rally. It is worth noting that the aussie performed stronger against the mighty greenback despite a meltdown in the risk-sensitive assets.

AUD/USD remained firmer in the past few trading sessions as the elevated energy prices underpinned the commodity ticks. The escalation in the Russia-Ukraine war has been dampening the oil supply on isolation of leading oil exporter, Russia.

Apart from the Russia-Ukraine headlines, speech from the Reserve Bank of Australia (RBA) Governor Philip Lowe is in focus, which is due on Wednesday. This may dictate the likely interest rate decision by the RBA in the coming monetary policy meeting. Usually, comments from the highest chair of central banks bring uncertainty in the associated currency before the event.

Meanwhile, the US dollar index (DXY) has settled above 99.00 and is aiming to capture the psychological level of 100 amid broader risk-aversion theme on the Russia-Ukraine headlines. The DXY is likely to misbehave this week on disclosure of the US Consumer Price Index (CPI) data, which is due on Thursday. This time the US inflation numbers hold significant importance as the disclosure is a week away from the dictation of March’s monetary policy. Therefore, it may impact the March’s monetary policy action principally.