Stocks in Australia were poised for a tepid open on Wednesday, with most major Asian markets closed for holidays.
In a two-part Twitter post, the president unfavorably compared the Fed to its Chinese counterpart and said if monetary policy in the U.S. was looser, the economy would "go up like a rocket."
"We expect the to leave the Funds rate steady. We also expect the FOMC to make no more than minor changes to its post‑meeting statement. The first paragraph of the post‑meeting statement will acknowledge Friday's better than expected GDP growth. We expect little reaction by the USD to the FOMC meeting," Joseph Capurso, senior currency strategist at Commonwealth Bank of Australia, wrote in a morning note.
There was, however, a "risk" the FOMC could lower the interest rate on excess reserves to "bring down the effective Funds rate," he added., which tracks the greenback against a basket of its peers, was at 97.479 following a decline from levels above 97.8 yesterday.
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