The current version of Final Cut Pro can only rotate clips and other content in one dimension. If you imagine the Z axis as a line that points out of the screen towards the viewer, that is the axis around which objects can be rotated. Alex4D XYZ rotate adds controls for the other two axes.
You can also choose the centre point around which the clip rotates:
In this example, the origin has been moved to line up with the first title character by dragging the centre on-screen control.
Rotated around the Z axis.
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