OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD rises to test last months highs after FOMC minutes

FXStreet (Córdoba) - Greenback weakened across the board after the release of the Federal Reserve minutes from the September meeting. AUD/USD rose from 0.7225 to 0.7271, reaching the highest level since mid September.

The pair currently trades at 0.7250, up 0.58% for the day. Price is trading near last week highs that lie at 0.7280; a break higher would expose 0.7300; above the next resistance could be located at 0.7310 (Aug 6,18 low).

The FOMC minutes showed that officials wanted to wait for clarity over the outlook before starting the normalization process of monetary policy. FOMC members were worried about low inflation.

AUD/USD continues with the winning streak

The aussie is consolidating gains and is about to post the seventh daily gain in a row and the strongest close since August 24. AUD/USD continues to reach higher highs and higher lows and is testing the top of September and the 0.7270/80 area.

Gold wavers, treasury yields trim gains

Gold prices rose toa high of USD 1151.30/Oz before falling back to USD 1145/Oz, while the treasury yields quickly erased the minor spike witnessed after the Fed minutes release.
Read more Previous

Rate hike bets drop after Fed minutes

The latest CME fed watch data shows the probability of a 25 basis point rate hike at future Fed meetings dropped slightly after the release of the Fed minutes.
Read more Next
Start livechat