AUD/USD posts modest daily gains above 0.7300 on Wednesday. USD struggles to find demand ahead of FOMC’s policy announcements. Labour market data from Australia will be released on Thursday. The AUD/USD pair closed the first two days of the week modestly higher and preserved its bullish momentum on Wednesday. As of writing, the pair was up 0.5% on the day at 0.7338. DXY stays in red below 93.00 ahead of FOMC The broad-based USD weakness ahead of the FOMC’s highly-anticipated monetary policy announcements seems to be helping the pair to edge higher. At the moment, the US Dollar Index (DXY) is down 0.23% on the day at 92.86. Furthermore, August Retail Sales data will be featured in the US economic docket. Previewing the FOMC’s September meeting, “we no longer expect yield curve control to be a Fed policy tool,” said UOB Group economist Lee Sue Ann and noted that investors will be focused on the Updated Economic Projection. Meanwhile, “while the Committee will recognise the improvement in domestic data (especially unemployment), Powell will still paint a dovish, uncertain outcome,” said JP Morgan analysts. A dovish tone in FOMC Chairman Jerome Powell’s press conference could force the USD to remain on the back foot. In the early Asian session on Thursday, the Australian Bureau of Statistics will publish its labour market report. Investors expect the Employment Change to come in at -50K and a worse-than-expected reading could weigh on the AUD. Earlier in the week, the Reserve Bank of Australia reiterated that it will not increase the policy rate target until progress is made towards full employment and inflation. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK PM Johnson’s spokesman: PM having conversations with lawmakers on Internal Market Bill FX Street 2 years AUD/USD posts modest daily gains above 0.7300 on Wednesday. USD struggles to find demand ahead of FOMC's policy announcements. Labour market data from Australia will be released on Thursday. The AUD/USD pair closed the first two days of the week modestly higher and preserved its bullish momentum on Wednesday. As of writing, the pair was up 0.5% on the day at 0.7338. DXY stays in red below 93.00 ahead of FOMC The broad-based USD weakness ahead of the FOMC's highly-anticipated monetary policy announcements seems to be helping the pair to edge higher. At the moment, the US Dollar Index (DXY)… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.