AUD/USD Under Pressure Ahead of CPI, FOMC Amid Tech-Fueled Selloff
Risk-off sentiment is weighing on AUD/USD ahead of Australia's CPI report and the FOMC meeting. Here's what traders should be watching.
Written by
Matt Simpson
Market Analyst
The Australian dollar is trading on the back foot after a sharp selloff in Asian technology stocks dented risk appetite and dragged regional currencies lower.
With Australia's CPI report due next and the FOMC decision following shortly after, traders face two major macro events that could determine whether AUD/USD extends its recent pullback or regains upside momentum. At the same time, futures positioning, market sentiment and several technical levels suggest the pair may be approaching an important inflection point.
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