AUD/USD recovers its recent losses above 0.6300 ahead of Australian PMI

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• AUD/USD recovers its losses ground above the 0.6300 mark in early Monday.
• Fed Chair Jerome Powell and other officials believe rates will stay on hold and may have peaked unless inflation rises.
• The latest Australian jobs data showed the labor market is easing.
• Market players will monitor the preliminary Australian S&P Global Composite PMI on Monday.

The AUD/USD pair kicks off the new week on a positive note during the early Asian session on Monday. The modest rebound of the pair is supported by a decline in the US Dollar (USD) and a correction in the US Treasury Bond yield. The pair currently trades around 0.6320, gaining 0.10% for the day.