# Aussie dollar trending higher ahead of FOMC meeting - OFX

> The Australian dollar opened slightly higher on 1 August 2018, trading near 0.7425 after June building approvals rose 6.4%. The Bank of Japan's dovish stance weakened the yen, and traders awaited the FOMC meeting.

- Date: 2018-07-31 · published 2018-07-31T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/64311-aussie-dollar-trending-higher-ahead-of-fomc-meeting-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Routine currency moves with a mildly firmer Aussie reflect the same US-versus-Australia rate dynamics, with little direct effect on feed commodity prices.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2018/08/01/aussie-dollar-trending-higher-ahead-of-fomc-meeting/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.