Another month of rising inflation will almost assuredly compel the Federal Reserve to continue raising interest rates sooner rather than later. How does this impact AUDUSD? This 13 March AUDUSD Fundamental Analysis has all the answers you need.
13 March, OctaFX – The Fed is scheduled to hold its next policy meeting on 20-21 March, where officials are widely expected to raise rates for the first time since December. The March policy statement will be delivered alongside quarterly economic projections covering GDP, unemployment and inflation.
Energy traders will also keep tabs on weekly inventory data courtesy of the American Petroleum Institute (API). The API report will be released at 20:30 GMT.
13 March AUDUSD Fundamental Analysis
The Australian dollar edged slightly higher on Tuesday following stronger than expected business data. However, gains remain capped ahead of headline CPI data out of Washington. At the time of writing, the AUD/USD exchange rate was up 0.1% at 0.7882. Immediate support is located around the 0.7820 level. Prices are coming up on an important resistance band near the psychological 0.7900 level.
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