US:

• The Fed left rates of interest unchanged as anticipated on the final assembly.
• The macroeconomic projections had been revised larger,
  and the Dot Plot confirmed that the FOMC nonetheless expects one other price hike by the
  finish of the 12 months with much less price cuts in 2024.
• Fed Chair Powell reaffirmed their information dependency however added that
  they’ll proceed rigorously.
• The US CPI yesterday beat expectations on the
  headline figures, however the core measures got here according to forecasts and the
  market’s pricing barely modified.
• The labour market stays pretty strong as seen final week with the NFP report
  and yesterday’s Jobless Claims.
• The ISM Manufacturing PMI beat expectations whereas the ISM Services PMI got here according to forecasts in one other signal that
  the US financial system stays resilient.
• The Fed members continue to cite elevated lengthy-time period
  yields as a purpose to proceed rigorously and certain pause in November as properly.
• The market doesn’t anticipate the Fed to hike anymore.

Australia:

• The
  RBA stored rates of interest unchanged as anticipated as they’re seeing inflation
  returning to goal with the present stage of rates of interest.
• The
  newest month-to-month CPI confirmed that core inflation is
  slowing.
• The
  labour market is weakening as we bought a massive miss
  in July and the majority of jobs added in August had been half time.
• The
  Australian Manufacturing PMI fell additional into contraction whereas
  the Services PMI jumped again into enlargement.
• The
  market expects the RBA to maintain charges regular on the subsequent assembly as properly.

AUDUSD Technical Analysis –
Daily Timeframe

On the each day chart, we will see that the AUDUSD pair
bought rejected by the downward minor trendline and bought
off following the US CPI launch. We continue to see a massive divergence with the
MACD which is
normally a signal of weakening momentum, however the sample of decrease highs may be
a sign that the sellers are nonetheless stronger than patrons and that the bias
is skewed to the draw back.

AUDUSD Technical Analysis –
four hour Timeframe

On the four hour chart, we will see that the worth
motion in AUDUSD stays a actual mess with erratic actions and spikes right here and
there. This is what we will anticipate from rangebound markets, which is why the
greatest technique is mostly to sit out and watch for a clear basic catalyst
earlier than getting again into the market. Yesterday’s US CPI doesn’t appear to be a
good purpose because the pricing on rates of interest expectations hasn’t modified because the
core measures got here according to expectations. Nevertheless, in case we see a
pullback, the sellers are probably to lean on the resistance across the
0.6360 stage the place we will additionally discover the 38.2% Fibonacci retracement stage.

AUDUSD Technical Analysis –
1 hour Timeframe

On the 1 hour chart, we will see extra
intently the bearish setup across the 0.6360 stage. Alternatively, if the
bearish momentum stays sturdy, the sellers may already pile in on the break
of the current low at 0.6312. The patrons, however, are probably to step
in round this low with a outlined danger beneath it to place for a rally into
the trendline and utterly erase the US CPI losses.

Upcoming Events

Today the one notable occasion on the agenda is the
University of Michigan Consumer Sentiment report though it has misplaced its
market transferring capability these days. Only massive surprises are probably to have an effect
available on the market.