FOMC Minutes Fuel USD Recovery, AUD Price May Look Past Jobs Data

Asia Pacific Market Open – US Dollar, FOMC Minutes, Australian Jobs Report, AUD/USD

  • US Dollar had best day since September, fueled by GBP weakness and hawkish FOMC minutes
  • US Treasury doesn’t label China as a currency manipulator, but APAC shares may still decline
  • The Australian Dollar may look past the jobs report, focusing on more prominent external news

We recently released our 4Q forecasts for the US Dollar in the DailyFX Trading Guides page

The US Dollar clocked in its best performance in a day since September 27th, rising about 0.6 percent. It was bolstered by weakness in the British Pound amidst softer-than-expected UK CPI data and perhaps Brexit pessimism bets ahead of the beginning of the EU leaders summit. Then, the US Dollar’s appreciation picked up pace as it rose with local government bond yields into the end of Wednesday.

The latter was partially fueled by the FOMC meeting minutesas expected. After last week’s market selloff, the central bank offered hawkish commentary. A number of officials said that they saw a need to hike above long-run levels

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2018/10/17/FOMC-Minutes-Fuel-USD-Recovery-AUD-Prices-May-Look-Past-Jobs-Data.html