AUD/USD trades steadily around 0.6500 as Trump-Zelenskyy meet takes centre stage
- AUD/USD wobbles around 0.6500 as investors await Trump-Zelenskyy meeting at the White House.
- US President Trump stated that Ukrainian President Zelenskyy could end war with Russia.
- Investors expect the Fed to cut interest rates in September.
The AUD/USD pair trades broadly stable around 0.6500 during the European trading session on Monday. The Aussie pair consolidates as investors await the meeting between United States (US) President Donald Trump and Ukrainian President Volodymyr at the White House during the day.
Ahead of the meeting, US President Trump has stated in a post on Truth.Social that Ukrainian President Zelenskiy could end war with Russia if he dropped his ambitions of claiming Russian-occupied region of Crimea and NATO membership.
“President Zelenskyy of Ukraine can end the war with Russia almost immediately, if he wants to, or he can continue to fight. Remember how it started. No getting back Obama given Crimea (12 years ago, without a shot being fired!), and NO GOING INTO NATO BY UKRAINE. Some things never change!!!,” Trump wrote.
An absence of positive outcome from Trump-Zelenskyy meet is unlikely to impact the appeal of risk-perceived assets as the war has already been discounted by investors.
Meanwhile, the US Dollar (USD) struggles to gain ground as traders remain confident that the Federal Reserve (Fed) will reduce interest rates in the policy meeting in September. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, looks for firm-footing near an almost three-week low around 97.70.
This week, investors will pay close attention to the Jackson Hole Symposium, which is scheduled for August 21-23.
Economic Indicator
Jackson Hole Symposium
The Jackson Hole Economic Policy Symposium is an annual symposium sponsored by the Federal Reserve Bank of Kansas City since 1978, and held in Jackson Hole, Wyoming, since 1981. It is a forum for central bankers, policy experts and academics to come together to focus on a topic.
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Sagar Dua
FXStreet
Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.
