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Spotlight Turns to the FOMC Decision, AUD Gains After CPIs

JFD

Risk aversion eased yesterday, with equities rebounding, despite that the coronavirus continued spreading at a fast pace. Today, apart from news concerning the virus, investors may also pay attention to the FOMC decision. The Committee is widely expected to stand pat, so the focus might fall on the language of the accompanying statement, as well as at Chair Powell’s press conference. The Aussie gained somewhat, aided by Australia’s better-than-expected CPIs for Q4.

Risk Aversion Eases, Eyes Turn to FOMC, AU Inflation Beats Estimates

The dollar traded mixed against the other G10 currencies on Tuesday and during the Asian morning Wednesday. It gained against CHF, GBP, NZD and JPY in that order, while it underperformed versus NOK, CAD, SEK and AUD.

Although not crystal clear by the performance in the FX sphere, the weakening of the franc and the yen suggests that the latest round of risk aversion has eased somewhat, although the...

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Source: https://www.jfdbank.com/en/research/spotlight-turns-to-the-fomc-decision-aud-gains-after-cpis-20200129
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