AUDUSD has Aussie employment figures and a US central bank release ahead.
AUDUSD – Daily Chart
AUDUSD has strong resistance at the 0.6364 level and that is the obstacle for further gains. A failure would open up a retest of the 0.61353 level.
The Thursday session will begin after the FOMC minutes at 3am HKT.
The Australian jobs market is expected to show a gain of 20k jobs after a gain of 56.3k a month ago. The employment rate is expected to come in at 4.1% after 4% a month ago.
Federal Reserve Chair Jerome Powell said that Donald Trump’s calls for lower interest rates won’t influence the central bank to change its rate decisions.
“People can be confident that we’ll continue to keep our heads down, do our work, and make our decisions based on what’s happening in the economy,” Powell said.
US government data showed that inflation picked up last month, with consumer prices rising 3% in January from a year earlier. The increase means it is less likely the Fed will cut its key rate anytime soon.
Investors will pay keen attention to Jerome Powell’s comments on tariffs.