Treasury Buyback Program

AUD/USD is consolidating near recent multi-month highs as traders assess whether the pair can resume its broader advance after a modest pullback. U.S. inflation data, economic releases and Federal Reserve signals from Jackson Hole could decide whether the bullish setup extends or reverses sharply.

The S&P 500 moved higher early Wednesday as traders tried to recover recent losses after a Treasury buyback announcement helped ease pressure in long dated yields. The index remains in a broader uptrend, but short term momentum has weakened as markets await FOMC minutes and watch whether key support levels hold.