The Australian Dollar begins Wednesday’s Asian session virtually unchanged against the US Dollar, following Tuesday’s loss of 0.41%, after the Reserve Bank of Australia (RBA) decision.
AUD/USD steady post-RBA's dovish stance and static rates. US housing data boosts optimism pre-FOMC decision. Fed policy update awaited, with eyes on interest rate forecasts. The Australian Dollar begins Wednesday’s Asian session virtually unchanged against the US Dollar, following Tuesday’s loss of 0.41%, after the Reserve Bank of Australia decision. The RBA kept rates unchanged, tilting more dovish than expected. That said, the AUD/USD trades at 0.6532, almost flat.
ANZ analysts commented that they expect the Fed to make no major changes to the Summary of Economic Projections . Regarding rate cuts, they noted, “We think it will cut in 25bp increments through the second half of the year, reducing the nominal Fed funds corridor by 100bp this year.” AUD/USD Price Analysis:Technical outlook The AUD/USD fell below the 200-day moving average of 0.6556, opening the door for further losses.
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