AUD/USD depreciates after registering modest gains in the previous day, trading around 0.7060 during the Asian hours on Wednesday. The currency pair loses ground as the US Dollar (USD) rises ahead of a crucial inflation report. Market expectations remain divided over the central bank's rate trajectory following its decision to hold rates steady in July. The Reserve Bank of Australia unanimously held the cash rate at 4.35% in August, but major forecasters split on the outlook. Conversely, NAB views conditions as sufficiently restrictive, forecasting steady growth and a hold through 2026 before mid-2027 cuts.