One could argue that any Fed revisions has already been priced in and perhaps what traders should focus on is the RBA announcement in 26 days and the hard and soft commodities and precious metals supply chain crunch from Russia’s export bans and restrictions.
With the Russia-Ukraine crisis reaching its tumultuous boil and the commodities cycle boom in focus for 2022, certain commodities currencies like the Australian dollar is being thrown into focus once again.
The AUD/USD recently crushed the 200-daily moving average, extending to some 3% gains over the past week while it looks to pull back on the backdrop of a strong USD and the impending interest rate revisions by the Fed in a few days’ time.
