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Forex Market
USD: Cautious Optimism as Data and Sentiment Balance
The US dollar gained modest strength, bolstered by mixed economic data. Initial jobless claims came in higher than expected at 241k (vs 223k forecast), pointing to some softness in the labor market. However, the ISM Manufacturing Index edged up to 48.7 (vs 47.9 forecast), helping balance sentiment. The greenback rose across the board during the NY session, with EUR/USD dropping to 1.1266, AUD/USD to 0.63675, and USD/JPY climbing to 145.73. USD/CAD also gained to 1.3862.
AUD: Trade Data Helps, But USD Strength Weighs
The Australian dollar briefly rallied after March’s trade surplus beat expectations (AUD 6.9b vs 3.2b), pushing AUD/USD to a session high of 0.6427. However, broad USD strength capped further gains, and the pair ended the session at 0.6380/85.
Key Economic Data Ahead (Sydney Time)
General Market
Wall Street ended higher in a relatively calm session: Nasdaq +1.5%, S&P 500 +0.6%, Dow Jones +0.2%.
US 10-year yields rose to 4.21%, while crude oil rebounded +1.4% to $61.90/bbl.
In Asia: Nikkei climbed +1.1% after the BOJ held rates at 0.5%. ASX 200 closed +0.2%, led by IT and real estate. Hong Kong and Shenzhen were closed.
In Europe: Most markets were shut for Labour Day. FTSE traded flat.
FX: AUD/USD briefly hit 0.6427 before falling to 0.63675; NZD/USD dipped below 0.5900; EUR/USD to 1.1266; USD/JPY up to 145.73.
Here are the latest mid-market rates:
| Currency Pair | Mid-market Rate |
|---|---|
| NZD/USD | 0.5941 |
| NZD/AUD | 0.9231 |
| NZD/JPY | 85.99 |
| NZD/CNY | 4.317 |
| NZD/EUR | 0.5251 |
| NZD/GBP | 0.4480 |
| NZD/HKD | 4.6051 |
| NZD/SGD | 0.7713 |
Char of the day
