• FOMC Statement this week, no major AU events to drive the market.
• Fed expected to keep rates same @ 4.50%, general consensus at this stage.
• AUDUSD is expected to continue consolidating between 0.6378 and 0.6492.
• AUDUSD will take its cues from the US market this week, due to the lack of AUD events.
• AU just had their elections over the weekend, which didn’t have much impact on the currency pair, and Australian polls usually don’t influence volatility or direction.
• We expect the USD to gain strength over the course of the week, given news that the US and China are negotiating a new trade relationship.
• The FOMC meeting is on Thursday (AEST), and it’s widely expected to keep rates at 4.50%. This will already be priced in, so there will be minimal impact on AUDUSD unless there is a change in rate.
• Due to the lack of high-impact events this week, we could expect some choppy movements, so the AUD could hover around 64 – 65c, still a great sign for importers.
• Will the US make any sudden changes?
| Economic Calendar: Mon 5th May 2025 – Friday 9th May 2025 (High Impact) (AU/US) | |||||
| Day | Time(AEST) | Event | Country | Forecast | Previous |
| Tues | 12:00am | ISM Services PMI | US | 50.2 | 50.8 |
| Thur | 4:00am | Federal Funds Rate | US | 4.50% | 4.50% |
| FOMC Statement | US | N/A | N/A | ||
| 4:30am | FOMC Press Conference | US | N/A | N/A | |
| 10:30pm | Unemployment Claims | US | 232K | 232K | |
Source: forexfactory.com