It’s all one trade at the moment.
AUD/USD is unwinding the post-Fed gains, just like stocks. Asia tried to push the moves further but soon ran out of gas. That led to profit taking and was helped along by the usual AI-overspend theme as Oracle shares were wrecked after earnings.
The good news for AUD is that the Fed boosted its GDP forecast for 2026 to 2.3% from 1.8% via the median range of Fed members. That’s a great sign for global growth and Australian commodity exports
Australian dollar down in Asia as it unwinds Wednesday’s gains