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FOMC Minutes: Two Key Takeaways that Will Shape Monetary Policy Moving Forward

Despite a powerful winter storm forcing the Federal Reserve’s Washington DC offices to close, the central bank was still able to release the minutes from its late January meeting.

AUD/USD still elevated on US dollar weakness ahead of key Australian releases

Early next week features some key releases from Australia, including the minutes from the last Reserve Bank of Australia (RBA) monetary policy meeting in early February, and the quarterly Wage Price Index.

AUD/USD continues slide ahead of RBA/Fed meeting minutes

Two key events for currency markets this week will revolve around recent central bank decisions from the Reserve Bank of Australia (RBA) and US Federal Reserve. Minutes from the RBA’s August 1st meeting will be released on Tuesday in Australia, while minutes from the late-July FOMC meeting will be released on Wednesday. Both of these central bank decisions were initially seen as neutral-to-dovish, prompting subsequent drops in their corresponding currencies. This week’s release of comprehensive minutes from those meetings is likely to have a further impact on both the Australian dollar and US dollar.

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FOMC Minutes: Dovish but (still) data-dependent Fed leaves rate hike door open

In yesterday’s preview report, we highlighted how traders might look at today’s FOMC minutes as staler than Grandma’s cereal after the market volatility and mixed economic data we’ve seen over the last three weeks . As it turns out, Federal Reserve members has a bit of a dovish lean even back in January. Some of the key headlines from today’s FOMC minutes follow [emphasis mine]:

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