AUD/USD holds lower ground, keeping post-Fed losses close to 0.7240 amid Thursday’s Asian session. In doing so, the Aussie pair ignores firmer preliminary readings of September PMIs from the Commonwealth Bank of Australia.
Gold prices were volatile in the US session on the back of the China Evergrande risks fading over the horizon and the Fed turning more hawkish. Evergrande agreed to settle interest payments on a domestic bond on Wednesday.
EUR/USD bears take a breather around fresh monthly low. Euro seesaws around the monthly low near 1.1690 amid a sluggish start to Thursday’s Asian session. The currency major pair struggles to extend the Fed-led fall as RSI conditions turn oversold.
Ripple price came down 20% since the beginning of this week. With some upside today, bulls stand to face a bull trap that could get quite painful. A better entry point at $0.78 looks to be more promising for bulls.
Powell surprised by signaling taper announcement could come in November. Tapering may end by mid-2022, opening the door to earlier rate hikes. Powell's comment on employment goal "all but met" is a significant hawkish shift.