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Market Update 05/05/2025

Welcome to our daily market update, where we help keep you informed on the latest happenings in the world of FX. If you have any questions or would like anything further explained, please don’t hesitate to reach out to your account manager or email info@cafx.com

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.

Mid-market rates.

Currency Pair Mid-market Rate
AUD/USD 0.6435
AUD/NZD 1.0832
AUD/JPY 93.18
AUD/CNY 4.6797
AUD/EUR 0.5687
AUD/GBP 0.4852
AUD/HKD 4.9881

 

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