AUD/USD is steady at 0.7550 as we head into a huge 24 hours for the market. 3 central bank meeting are scheduled starting with the BOJ in the Asian afternoon and the US FOMC later tonight. We finish with the RBNZ tomorrow morning.
The BOJ is the only live event with a real chance of interest rate move with some analysts seek a further interest rate cut. The FED meeting is down now to only a 10% chance of a rate hike but many questions will be given to Janet Yellen about the timing of the next move. There is some risk of a further bond market sell off if markets lose faith in the FED.
The impact on the AUD/USD will be only secondary and we may be looking more at the stock market movement to get the next direction. A stock market sell off may see AUD/USD test 0.7450 again but if the FED can calm the markets and stocks rally we should be sitting above 0.7600.
