Market update | 20 December 2022

Market update | 20 December 2022
Analysis
Ahura Chalki
Author:
Ahura Chalki
Published on: 20.12.2022 14:47 (UTC)
Post reading time: 1.47 min
270

Weaker USD after BoJ and PBoC


Tuesday started with a focus on three central banks in Asia. In Australia, Reserve Bank released its meeting minutes, the Bank of Japan surprised investors, and PBoC was predicted. 


Minutes of the Australian Reserve bank December meeting show that there is no consensus for further decisions. However, most RBA members still support the pause in the rate hike process. These comments from policymakers in rate decision meetings cause more pressure on the Australian dollar. AUDUSD breached the key pivot and support at 0.6687, and from the technical point of view, it is entering into a downtrend after soft-bullish moves.