Australian Dollar Declines Amid Market Caution Ahead of Fed Policy Decision

📆 17/12/2024 9:04 p. m.
📰 FXStreetNews

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Australian Dollar,US Dollar,Federal Reserve

The Australian Dollar (AUD) is losing ground against the US Dollar (USD) as traders anticipate a potential 25 basis point rate cut by the US Federal Reserve (Fed) and increase bets on sooner and more significant rate cuts by the Reserve Bank of Australia (RBA). The US Dollar remains strong due to market caution before the Fed's decision, with CME FedWatch showing a high probability of a quarter basis point cut at the December meeting. Traders will also watch Jerome Powell's press conference and the Summary of Economic Projections (dot-plot) for further clues. Other factors impacting the AUD include falling Australian consumer confidence and China's projected economic growth target of 5% in 2025.

The Australian Dollar declines amid market caution ahead of Fed policy decision. The Aussie Dollar receives downward pressure from the increased likelihood of the RBA delivering rate cuts sooner. US Federal Reserve is widely expected to deliver a 25 basis point rate cut on Wednesday. The Australian Dollar extends its losses for the second successive session against the US Dollar on Wednesday.

A decisive breakout above this channel could drive the pair toward the eight-week high of 0.6687. AUD/USD: Daily Chart Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar against listed major currencies today. Australian Dollar was the weakest against the Euro. USD EUR GBP JPY CAD AUD NZD CHF USD -0.07% 0.03% 0.15% 0.03% 0.12% 0.10% -0.00% EUR 0.07% 0.10% 0.23% 0.10% 0.18% 0.17% 0.07% GBP -0.03% -0.10% 0.12% 0.00% 0.09% 0.07% -0.02% JPY -0.15% -0.

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