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Market Update 13/02/2025

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

US Stock Market:
Wall Street opened with significant declines but later recovered some ground. The Nasdaq Composite briefly approached breakeven in the New York afternoon. The Dow Jones Industrial Average fell 0.5%, the S&P 500 dropped 0.3%, while the Nasdaq Composite edged up 0.1%.

 

European Stock Markets:
European markets opened relatively stable, with Germany’s DAX index up 0.2% in early trading. European stocks continued to rise, showing an upward trend before the close. At the end of the session, Germany’s DAX index closed up 0.5%, the UK’s FTSE 100 rose 0.3%, and France’s CAC 40 index gained 0.2%.

 

Asian Stock Markets:
Asian stock markets showed strong performance on Wednesday. Hong Kong’s Hang Seng Index surged 2.6%, China’s Shenzhen Composite Index rose 1.0%, and Japan’s Nikkei 225 increased by 0.4%. Australia’s S&P/ASX 200 climbed 0.6%, with industrial and financial sectors performing particularly well.

 

Currency Markets:
The US dollar initially strengthened on CPI data but later retreated on news of Trump-Putin negotiations. EUR/USD rebounded from a low of 1.0317, continuing to rise to 1.0430 in the New York afternoon before sliding as the dollar rebounded. GBP/USD bounced from a low of 1.2377 to a high of 1.2477.

 

USD/CAD fell to 1.42555 but later bounced from the lows. AUD/USD stabilized around 0.6285 at the Sydney open. Earlier, AUD/USD had dropped to 0.6235 after the CPI data release, then rebounded above 0.6300. NZD/USD declined to a low of 0.5601. USD/JPY rose to a high of 154.80.

 

Economic Data:
US January CPI increased 0.5% month-over-month and 3.0% year-over-year, both higher than expected. Core CPI also exceeded expectations.

 

Bond Market:
The US 10-year Treasury yield held steady at 4.53%.

 

Commodity Market:
Brent crude oil fell back below $76.50 per barrel.

 

Geopolitics:
News of negotiations between former President Trump and Russian President Putin regarding the Ukraine war, as well as reports of Ukraine considering a draft agreement, had a positive impact on market sentiment.

Mid-market rates.

Currency Pair Mid-market Rate
AUD/USD 0.6279
AUD/NZD 1.1129
AUD/JPY 96.93
AUD/CNY 4.5917
AUD/EUR 0.6046
AUD/GBP 0.5046
AUD/HKD 4.8899

 

Chart of the day

Disclaimer:

The market update provided by Corporate Alliance FX (CAFX) is for reference only and does not constitute a bid, levy, offer or invitation to offer for the financial product, the basis for any contract or commitment, a recommendation for the purchase or sale of any investment instruments, financial, legal, tax, investment advice, investment advice or other opinions. It will not be legally liable for any consequences or losses caused by the information or content involved.
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