- AUD/USD remains in positive territory over 0.7100 on Wednesday.
- US Dollar Index consolidates Tuesday gains, trades sub94.00.
- Minutes from the latest FOMC meeting are in focus.
The AUD/USD advanced to 0.7150 in the European session but struggled to hold gains. As trades up +0.3% 0.7125.
DXY eases pre- FOMC Minutes
USD strength sent the AUD/USD sharply lower on Tuesday following an announcement by US President Donald Trump that fiscal stimulus talks will be postponed until after the elections. The news boosted safe haven demand lifting the US Dollar Index + 0.4% closing at 93.85.
President Trump then back pedalled supporting payroll protection and sending cheques to American families. This soothed the market S&P 500 futures are +0.62% US Dollar Index trades down 0.15% at 93.70.
There is no high impacting US data. At 1800 GMT, the FOMC releases the minutes of its September meeting.
The minutes are expected to support an accommodative stance. The US economy is going to need a substantial rate and spending support for several years, according to analysts.
–