The AUD/USD pair gains momentum above the 0.6400 mark during the early Asian trading hours on Thursday.
AUD/USD climbs above 0.6400 after the Federal Open Market Committee policy meeting.
decided to hold the rate steady, as widely expected;ADP Private Payrolls rose 113K in October vs. 89K prior, below consensus. International Monetary Fund highlighted that further policy tightening is required from the RBA. Investors await Australian Trade data and US weekly. Jobless Claims on Thursday. The pair attracts some buyers following the
pause and mixed US economic data. The pair currently trade around 0.6409, gaining 0.25% on the day. Meanwhile, the US Dollar Index faces some selling pressure near 106.67 after retreating from the weekly highs of 107.11. US Treasury bond yields edge lower, with the 10-year standing at 4.73%. As widely expected, the Federal Open Market Committee policy meeting decided to maintain the interest rate steady and hold the tightening bias.
noted that tighter conditions are expected to impact economic activity and the labor market while mentioning that the recent rises in long-term bond rates lowered the need for more tightening. The probability of a December increase being discounted by the market is around 22%, according to the CME FedWatch Tool. About the data, ADP Private Sector Payrolls rose 113K in October from 89K in September, below consensus expectations of a 150k rise.
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