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AUD/USD holds losses below 0.6250 after softer Australian inflation data
AUD/USD is flriting with weekly lows below 0.6250 in Wednesday's Asian trading. Softer-than-expected Australian inflation data reaffirm February RBA rate cut bets, smashing the Aussie. Further, China's economic woes and US-Sino trade war fears weigh further on the pair ahead of the Fed verdict.
USD/JPY loses ground below 155.50, awaits Fed's decision
USD/JPY turns south below 155.50 early Wednesday as traders look to the key FOMC decision before placing fresh directional bets. The divergent Fed-BoJ policy expectations might continue to act as a tailwind for the currency pair, though trade war fears could limit any downside.
Gold price ticks lower on positive risk tone; bears lack conviction amid trade war fears
Gold price consolidates in a narrow band on Wednesday amid mixed fundamental cues. A positive risk tone caps the XAU/USD, though sliding US bond yields lend some support. Traders also seem reluctant to place directional bets ahead of the FOMC policy decision.
Bitcoin, Ethereum and Ripple volatility spikes expected on Fed rate decision
Bitcoin price hovers around $101,700 on Wednesday after declining for four consecutive days since Saturday. Ethereum price follows BTC’s footsteps, closing below its key level, hinting at a correction ahead. Ripple is sliding toward its ascending trendline support; a close below would lead to a decline.
Australia CPI expected to ease further in December, nearing RBA’s target
Australia will release fresh inflation-related data on Wednesday, and financial markets anticipate price pressures eased further at the end of 2024, paving the way for a Reserve Bank of Australia (RBA) interest rate cut when it meets in February.
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