AUD/USD holds to gains above 0.6700 ahead of RBA minutes – by christianborjon AUDUSD Currencies Majors Fed RBA
asing recession fears in the US spurred by an aggressive Federal Reserve. At the time of writing, the AUD/USD is trading at 0.6713.
Of late, US equities are fluctuating as investors prepare for the Fed’s decision on Wednesday. At the same meeting, policymakers are expected to update their forecasts regarding interest rates, unemployment, and US GDP growth. AUD/USD traders should be aware that it will include projections for 2025.The Federal Reserve Open Market Committee is expected to raise rates by 75 bps, to the 3-3.
Reflection of the above-mentioned is higher US Treasury bond yields, with the 10-year benchmark note rate gaining almost three bps at 3.473%, underpinning the greenback, which, as portrayed by the US Dollar Index, gains 0.10% at 109.754. Aside from this, in the Asian session, the Reserve Bank of Australia head of domestic markets Jonathan Kearns said that “higher interest rates reduce borrowing capacity and increase loan repayments,” meaning that increasing borrowing costs would trigger a decline in the housing market.last week opened the door for a less aggressive monetary policy at “some point,” putting 25 bps rate hikes in play for the October monetary policy meeting.
Analysts at TD Securities expect the RBA to hike 50 bps in October while “retaining 25bps hikes for the Nov, Dec and Feb ’23 meetings, taking our terminal cash
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