Fed Dovish Stance Sparks AUD/USD, NZD/USD & USD/JPY Volatility – Forex Market Analysis
Weaker US data and rising Fed rate cut bets boosted AUD/USD and NZD/USD, pressured USD/JPY, and set the stage for volatile trading ahead of key central bank decisions.The release of a weaker ISM Services PMI has kept pressure on the US Dollar Index, allowing AUD/USD to recover from the 0.6450 level. The chart below shows that the ISM services PMI has dropped to 50.1, and a drop below 48.6 would indicate a recession.Moreover, the weak employment data keeps the pressure on the US dollar due to the