Normal
Comments from Fed officials, and the latest FOMC Minutes, appear to be the catalyst behind the US Dollar's overnight gains.Yesterday's 48-year low AU unemployment print, combined with local wages and inflation data, could support the Aussie Dollar on expectations for another 50bps rate hike at the RBA's next meeting. However, the Fed's willingness to continue tightening aggressively if needed may result in sustained selling pressure on AUD/USD, and potentially spark a retest of the cluster of lows around 0.6970/50, as you highlighted.All trading carries risk, but it will be interesting to see how this pair trades building up to the next RBA and Fed meetings.
Comments from Fed officials, and the latest FOMC Minutes, appear to be the catalyst behind the US Dollar's overnight gains.
Yesterday's 48-year low AU unemployment print, combined with local wages and inflation data, could support the Aussie Dollar on expectations for another 50bps rate hike at the RBA's next meeting. However, the Fed's willingness to continue tightening aggressively if needed may result in sustained selling pressure on AUD/USD, and potentially spark a retest of the cluster of lows around 0.6970/50, as you highlighted.
All trading carries risk, but it will be interesting to see how this pair trades building up to the next RBA and Fed meetings.
Hello and welcome to Aussie Stock Forums!
To gain full access you must register. Registration is free and takes only a few seconds to complete.
Already a member? Log in here.
