AUD / USD struggles to make a convincing bounce, remains bearish near 0.7620

• AUD / USD is still on track to close in negative territory.
• The US Dollar Index remains flat around 92.30.
• Investors wait for the FOMC to release the minutes of the March meeting.

After falling towards 0.7600 during European trading hours, the pair AUD/USD it recovered modestly but lost its traction, once again, around 0.7650. At time of writing, the pair was down 0.57% on the day at 0.7618.

DXY falls towards 92.30 ahead of the FOMC

Earlier in the day, the dollar began to pick up steam as the 10-year US Treasury yield turned north and gained more than 1%. The US Dollar Index (DXY) rose to a daily high of 92.41 in the first US session, but appears to have entered a consolidation phase around 92.30. Investors choose not to stay on the sidelines while they wait for the FOMC to release the Minutes for its March 16-17 meeting.

Reflecting the choppy market action, the major Wall Street indices are virtually unchanged on the day.

Data released by the U.S. Census Bureau on Wednesday showed that the trade deficit for goods and services in February widened to $ 71.1 billion from $ 67.8 billion in January. This reading was worse than analysts’ estimate of a $ 70.5 billion deficit, but was largely ignored by market participants.

Previewing the FOMC release, “Markets anticipate that as US economic growth accelerates, the Fed will downsize and eventually end its bond program,” notes FXStreet analyst Joseph Trevisani. “The FOMC Minutes will be tracked for clues as to the logic, timing and size of any change in Treasury intervention.” No macroeconomic data will be released on the agenda on Thursday

Australian economic.

Technical levels