{"id":21038,"date":"2026-01-28T12:43:43","date_gmt":"2026-01-28T12:43:43","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=21038"},"modified":"2026-01-28T12:47:30","modified_gmt":"2026-01-28T12:47:30","slug":"dxy-slides-aud-soars-cad-awaits","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/opening-bell\/dxy-slides-aud-soars-cad-awaits\/","title":{"rendered":"Dollar Slides, AUD Soars, CAD Awaits Guidance \u2014 Markets Brace for Central Bank Trio"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong>1. Federal Reserve Meeting \u2013 Dovish Pricing Dominates Ahead of Powell<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"717\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-81-1024x717.png\" alt=\"\" class=\"wp-image-21051\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-81-1024x717.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-81-300x210.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-81-768x538.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-81-1536x1076.png 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-81-2048x1434.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Markets are heading into today\u2019s FOMC meeting with\u00a0<strong>a firmly dovish bias<\/strong>, as traders bet that Jerome Powell will emphasise data dependency and patience rather than further tightening. Futures pricing shows a near-unanimous expectation that the Fed will\u00a0<strong>hold rates steady<\/strong>, but the tone of Powell\u2019s statement will be the key market mover.<\/p>\n\n\n\n<p>The\u00a0<strong>US Dollar Index (DXY)<\/strong>\u00a0has\u00a0<strong>broken decisively below its key <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">support<\/a><\/strong>\u00a0around\u00a0<strong>97.00<\/strong>, extending its multi-week downtrend after slipping out of a corrective channel. The move reflects growing conviction that the Fed\u2019s next significant shift will be toward eventual easing later in the year.<\/p>\n\n\n\n<p>However, if Powell delivers&nbsp;<strong>a hawkish twist<\/strong>&nbsp;\u2014 warning that inflation remains sticky or that further tightening remains possible \u2014 the&nbsp;<strong>dollar could bottom out temporarily<\/strong>, attracting dip-buying flows as short positioning becomes crowded.<\/p>\n\n\n\n<p><strong>Technical View:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Trend:<\/strong>\u00a0Bearish breakdown<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">Support<\/a>:<\/strong>\u00a096.00 \/ 95.00<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">Resistance<\/a>:<\/strong>\u00a098.00 \/ 99.50<\/li>\n\n\n\n<li><strong><a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/relative-strength-index\/\">RSI<\/a>:<\/strong>\u00a0Oversold at ~28, hinting at short-term bounce potential if Powell surprises hawkishly.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>2. Australia CPI \u2013 Hotter Inflation Sparks RBA Hawkish Bets, AUDUSD Surges<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"717\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-80-1024x717.png\" alt=\"\" class=\"wp-image-21045\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-80-1024x717.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-80-300x210.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-80-768x538.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-80-1536x1076.png 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-80-2048x1434.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Australia\u2019s latest CPI print came in&nbsp;<strong>hotter than expected at 3.8% y\/y<\/strong>, reigniting speculation that the&nbsp;<strong>RBA may resume tightening<\/strong>&nbsp;after months on hold. The data underscores persistent inflationary pressures in services and rents, forcing markets to reprice the odds of another rate hike in early 2026.<\/p>\n\n\n\n<p>The&nbsp;<strong>Australian Dollar (AUDUSD)<\/strong>&nbsp;responded sharply,&nbsp;<strong>breaking through the key 0.69 resistance<\/strong>&nbsp;and touching&nbsp;<strong>0.70 for the first time in over a year<\/strong>. The pair has rallied aggressively as traders anticipate a more hawkish tone from the RBA next week.<\/p>\n\n\n\n<p>While momentum remains strong,&nbsp;<strong>the RSI above 80<\/strong>&nbsp;signals overbought conditions, suggesting&nbsp;<strong>a potential pullback or consolidation phase<\/strong>. Still, as long as AUDUSD&nbsp;<strong>holds above 0.69<\/strong>, the broader trend remains constructive, and any dip may be seen as a buying opportunity in anticipation of tighter RBA policy.<\/p>\n\n\n\n<p><strong>Technical View:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Trend:<\/strong>\u00a0Strong bullish breakout<\/li>\n\n\n\n<li><strong>Support:<\/strong>\u00a00.6900 \/ 0.6830<\/li>\n\n\n\n<li><strong>Resistance:<\/strong>\u00a00.7050 \/ 0.7150<\/li>\n\n\n\n<li><strong>RSI:<\/strong>\u00a0Overbought (81), implying near-term correction risk before trend continuation.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>3. Bank of Canada Decision \u2013 Neutral Tone Could Support CAD at Key Pivot<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"717\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-79-1024x717.png\" alt=\"\" class=\"wp-image-21039\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-79-1024x717.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-79-300x210.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-79-768x538.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-79-1536x1076.png 1536w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2026\/01\/image-79-2048x1434.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The&nbsp;<strong>Bank of Canada<\/strong>&nbsp;is expected to&nbsp;<strong>hold rates steady at 2.25%<\/strong>&nbsp;later today, but the focus is squarely on&nbsp;<strong>forward guidance and tone<\/strong>. Inflation has eased, and the economy remains resilient despite U.S. tariff headwinds, giving policymakers room to stay patient.<\/p>\n\n\n\n<p>Markets will parse Governor Macklem\u2019s comments for any&nbsp;<strong>shift in bias<\/strong>&nbsp;\u2014 a&nbsp;<strong>neutral or cautiously hawkish tone<\/strong>&nbsp;could&nbsp;<strong>support the Canadian dollar<\/strong>, while dovish rhetoric could re-weaken it.<\/p>\n\n\n\n<p>The&nbsp;<strong>USDCAD pair<\/strong>&nbsp;has been in a steep decline, now&nbsp;<strong>testing a major support zone near 1.36<\/strong>. A sustained break below could&nbsp;<strong>open the door toward 1.32 in the coming months<\/strong>, particularly if the BoC strikes a confident tone about inflation progress and growth stability. Conversely, dovish guidance could see a short-term rebound toward 1.38\u20131.39.<\/p>\n\n\n\n<p><strong>Technical View:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Trend:<\/strong>\u00a0Bearish channel breakdown<\/li>\n\n\n\n<li><strong>Support:<\/strong>\u00a01.3600 \/ 1.3450<\/li>\n\n\n\n<li><strong>Resistance:<\/strong>\u00a01.3800 \/ 1.4000<\/li>\n\n\n\n<li><strong>RSI:<\/strong>\u00a0Deeply oversold (25), suggesting a potential pause before further downside if BoC guidance reinforces CAD strength.<\/li>\n<\/ul>\n\n\n\n<p><strong>In short:<\/strong><br>Markets are leaning dovish on the Fed, hawkish on the RBA, and neutral-to-slightly hawkish on the BoC \u2014 a combination that leaves the USD broadly weaker against both AUD and CAD heading into midweek trading. Volatility around central bank communication is likely to define direction in the coming sessions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. dollar slumps ahead of a dovish-leaning Fed meeting, while hot Australian inflation boosts the AUD and the Canadian dollar steadies at key support before the BoC decision.<\/p>\n","protected":false},"author":162,"featured_media":21057,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[17],"class_list":["post-21038","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-opening-bell"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dollar Slides, AUD Soars, CAD Awaits Guidance \u2014 Markets Brace for Central Bank Trio - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Markets brace for major central bank updates as the Fed\u2019s dovish outlook pressures the dollar, Australia\u2019s hot CPI fuels RBA hike bets, and Canada\u2019s rate guidance becomes the next catalyst for USD\/CAD.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/opening-bell\/dxy-slides-aud-soars-cad-awaits\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dollar Slides, AUD Soars, CAD Awaits Guidance \u2014 Markets Brace for Central Bank Trio - 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