At the January 31st Federal Open Market Committee (FOMC) press conference, Fed Chair Jerome Powell struck a hawkish tone as he pushed back sharply against expectations.
Economy Statement by Eric Van Nostrand, performing duties of Assistant Secretary for Economic Policy for the Treasury Borrowing Advisory Committee marketswired.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketswired.com Daily Mail and Mail on Sunday newspapers.
The Fed is widely expected to hold interest rates steady this Wednesday at its first policy meeting of 2024. Investors will be looking for any clues about when cuts could begin.
AUD/USD forms bearish flag, with sell signal set at 0.6500 and buy-stop at 0.6600. Focus on US PCE data and upcoming Fed decision. Pair may fall to 0.6500.