- AUD/USD climbs mildly higher ahead of key events
- US Dollar Index trades a tight range around 90.30.
- US data, Fed Powell and President-elect Biden’s stimulus plan in focus.
The AUD/USD picked up from modest losses on Wednesday and edged northwards prior to key events on Thursday.
Focus shifts to Biden’s stimulus plan
The risk on mood in the European session buoyed the risk-sensitive AUD. Looking ahead US Initial Jobless Claims data will be in focus.
FOMC Chairman Jerome Powell will be speaking. The US Dollar Index is little changed around 90.30 on the day.
President-elect Joe Biden is expected to announce the stimulus plan, which could be around $2 trillion. In the Asian trading session10-year US Treasury bond yield jump higher on stimulus hopes. A similar reaction during Biden’s announcement could lift the greenback and push AUD/USD southwards..