- June 16, 2022
- Posted by: Stratford Team
- Category: Economy
AUDUSD is leading the way higher for dollar pairs on Wednesday.
The USD is lower ahead of the FOMC meeting as markets speculate on whether the Fed will raise 50bps or 75bps.
Jobs numbers will be key in shaping RBA policy, but lower tier data such as sentiment surveys could also factor. This week’s survey suggests inflation and rate hikes are taking a heavy toll.
Markets are trying to recover on Wednesday and break the intense selling pressure of recent sessions. The latest wave downwards pushed the S&P500 to new 2022 lows on Tuesday, and both the Dax and FTSE broke below the May pivot low this week. They are all bouncing higher on Wednesday ahead of the US open, and dollar pairs are also rallying, but with critical FOMC meeting later, things can change quickly.
Amongst some good gains in G7 currencies versus the US dollar, the Australian Dollar stands out with a +0.95% gain. This rally comes after a long streak of…
