The AUD/USD pair is demonstrating a sideways auction around 0.6685 in the early Tokyo session. The Aussie asset is looking to recapture the round-level resistance of 0.6700 as investors are not worried anymore for fears of bigger rate hikes from the Federal Reserve (Fed).

An anticipated decline in the United States inflation, higher Unemployment Rate, lower-than-expected increase in Average Earnings, and the Silicon Valley Bank (SVB) collapse indicate that the Fed would be lighter on interest rates to safeguard the interest of investors and to restore consumer confidence.

S&P500 futures are showing a marginal correction after a super-bullish Tuesday, portraying a minor long-liquidation amid an overall risk-on mood. However, Moody’s Investors Service cut its view on the entire banking system to negative from stable, as reported by CNBC. Credit rating firms cited it as a “rapidly deteriorating operating environment” despite regulators’ efforts to safeguard the interest of depositors and institutions that were hit with liquidity issues.