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A$ Steady Ahead Of Fed Decision

AUD

Currencies are little changed ahead of the Fed decision due later and AUDUSD is steady at 0.6455. It reached a high of 0.6466 earlier but then fell on unchanged rates in China to an intraday low of 0.6450. The USD index is flat.

  • Aussie is down against the kiwi by 0.1% to 1.0861 but steady against the other majors. AUDJPY is at 95.41, AUDEUR at 0.6040 and AUDGBP at 0.5210.
  • Equity markets are weaker again with the ASX down 0.6% and the CSI 300 -0.3%. The S&P e-mini is down 0.1%. Oil prices are down 0.5% on the weaker risk tone with WTI hovering just above $90. Copper is +0.1% and iron ore around $121.
  • Later the focus is on the Fed decision. It is widely expected to leave rates steady (see MNI Fed Preview). There will also be a forecast update and press conference. On the data front UK CPI for August is released.

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