• AUD/USD holds positive ground near 0.6555 in Monday’s early Asian session. 
• The US PCE inflation increases 2.5% YoY in June, underscoring an improving inflation environment. 
• The RBA’s hawkish stance might support the Aussie. 

The AUD/USD pair trades on a stronger note around 0.6555 during the early Asian session on Monday. The rising bets that the US Federal Reserve (Fed) would begin cutting interest rates in September weigh on the US dollar (USD). Market participants will monitor the Australian Retail Sales on Tuesday. On Wednesday, the Australian Consumer Price Index (CPI) and Fed Interest Rate Decision will be in the spotlight. 

Data released by the US Bureau of Economic Analysis on Friday showed that the Personal Consumption Expenditures (PCE) Price Index increased by 2.5% on a yearly basis in June, compared to 2.6% in May. This figure was in line with the market consensus. On a monthly basis, the PCE Price Index rose 0.1% after staying unchanged in May.

The US Core PCE inflation, which excludes volatile food and energy prices, rose to 2.6% in the same period, matching May's increase and coming in above the estimation of 2.5%. The core PCE Price Index rose 0.2% MoM in June, compared to 0.1% in May