Australian dollar nears the highs of the week as risk trades continue to improve ...Middle East

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The mood in markets continues to improve as traders digest yesterday's FOMC decision. The initial reaction was to sell the dollar and buy risk assets but it was swamped late yesterday by a curious round of selling. That pressure has slowly faded and now AUD/USD is near the highs of the week and the Nasdaq is up 1.6%.It's cliche but the next move is all about non-farm payrolls. Powell was about as explicit as he could get when asked about what it would take to cut rates and he said it would take more than 'a couple' tick increase in unemployment to shift in that direction. Right now, the unemployment rate is 3.8% so I'm guessing the conversations would start at 4.0% or 4.1%.Obviously that wou

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Last updated : 02 May 2024 clock 10:12 PM

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Australian dollar nears the highs of the week as risk trades continue to improve ...Middle East

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