The AUD/USD pair has refreshed its day’s low at 0.7083 as investors have turned risk-averse amid the interest rate decision by the Federal Reserve (Fed) this week. The US Dollar Index (DXY) has displayed a wild gyration in a 101.40-101.57 range as the volatility is accelerating dramatically.
EUR/USD treads water around 1.0870-60 as markets remain on a dicey floor ahead of the key central bank meetings and data. Adding strength to the market’s indecision could be the return of China and fears of a softer growth number from Germany.
Gold price (XAU/USD) aptly portrays the market’s cautious mood ahead of top-tier data/events during early Monday. The metal rose in the last six weeks before losing the upside momentum at the latest.
Ethereum price has been consolidating after the January rally subsided after three weeks. This tightening continues even after BTC shot up 3% over the weekend. Therefore, a short-term spike in buying pressure should is likely. This move could propel ETH to tag immediate hurdles, liquidating early bears.
While the entire global investment community is apparently very excited about the US Federal Reserve slowing its rate increases to 25 point increments, there are strong reasons for arguing why another 50 point rate hike, or two, are still on the Fed menu.