The Australian Dollar might be at a crossroads after more Fed commentary reiterated the case for a less hawkish stance. Equity markets got a boost, but uncertainty lingers. Lower AUD/USD?
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Wall Street IG Client Sentiment: Our data shows traders are now net-short Wall Street for the first time since Sep 21, 2023 when Wall Street traded near 34,068.90.
It appears that the bank is signalling for a pause at its meeting at the end of this month and potentially further afield. Interest rate markets are ascribing only a low probability of a hike. However she made it clear that the current Fed funds policy rate of 5.25 – 5.50% is a restrictive stance to deal with highIn regard to a soft landing for the US economy, Minneapolis Federal Reserve President Neel Kashkari opined that “It is looking more favourable.”finished its cash session higher and APAC equities have followed the lead with a sea of green across the region with South Korea’s KOSPI index leading the way, adding more than 2.5%.
He also said, “Some further tightening may be required to ensure that inflation, that is still too high, returns to target.”AUD/USD rejected a move below a descending trendline last week but overall remains in a descending trend channel. To learn more about trend trading, click on the banner below.
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