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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
AUD/USD attracts buyers for the second straight day on Wednesday, rising to a fresh high since September 23 during the Asian session. A hot Australian CPI print reaffirmed bets for an imminent RBA rate hike in November and boosted the Australian Dollar. Meanwhile, the US Dollar pauses after a three-day rally to a near two-week high ahead of the crucial FOMC rate decision, lending additional support to the currency pair.
USD/JPY attracts buyers for the third straight day, recovering further from a one-month low ahead of Wednesday’s FOMC decision and the BoJ policy update on Friday. Meanwhile, expectations that the BoJ may hold off on aggressive rate hikes weigh on the Japanese Yen, and the US Dollar advances to a nearly two-week high, supporting the currency pair.
Gold remains muted after the Federal Open Market Committee decided to keep the Fed funds rate unchanged at 4%. The US Dollar ticked modestly lower as an immediate reaction to the announcement, but quickly changed course. XAU/USD trades unchanged as investors await for Chair Warsh press conference.
The US Fed announces its Interest Rate Decision on Wednesday, following another pivotal meeting that could provide key insights into the bank’s monetary policy outlook heading into the end of the year.
