AUD Steady, Wall St. Weakens Amid Rising U.S. Job Cuts

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Forex Market 

USD: Wall St. Ends Mixed; Risk-Off Persists Amid Prolonged U.S. Shutdown 
A choppy end to the week saw Wall St. close mixed — Nasdaq -0.2%, S&P 500 +0.2%, and Dow Jones +0.1% — while U.S. 10-year yields were steady at 4.09% and Brent Crude rose 0.5% to US$63.70/barrel. The AUD/USD traded within 0.6468–0.6499, closing near 0.6495.
  • Asian equities slipped, led by Nikkei -1.2%, Hang Seng -0.9%, and ASX 200 -0.7%.
  • European markets opened weaker; FTSE -0.5%, DAX -0.3%, CAC -0.1%.
  • Canada added 66.6k jobs in October, far exceeding expectations, pushing USD/CAD lower to 1.4056.
  • U.S. University of Michigan Sentiment fell to 50.3 from 53.6, below expectations.
  • Ongoing U.S. government shutdown delayed major data releases.
  • Late rebound in Wall St. saw risk sentiment stabilize, with AUD/USD recovering to 0.6498.

Key Economic Data Ahead (Sydney Time)

General Market

Wall Street
  • Dow Jones: +0.1% to 46,987
  • S&P 500: +0.2% to 6,727
  • Nasdaq: -0.2% to 23,005
Asia-Pacific
  • ASX 200: -0.7% to 8,770
  • Nikkei: -1.2% to 50,276
  • Shanghai Comp: -0.3% to 3,998
Europe
  • FTSE: -0.5% to 9,683
  • DAX: -0.7% to 23,570
  • CAC: -0.2% to 7,950

Headlines to Watch 

United States 🇺🇸
  • Ongoing U.S. government shutdown continues to delay key data releases, including employment and inflation figures.
  • University of Michigan Sentiment fell to 50.3, signaling weaker consumer confidence.
  • Markets await any sign of progress on bipartisan talks to end the shutdown.
Australia 🇦🇺
  • RBA’s Hauser to speak — traders watching for policy hints following recent soft domestic data.
  • AUD/USD remains rangebound near 0.65 as risk sentiment stays fragile.
Japan 🇯🇵
  • BOJ Summary of Opinions due; markets will look for discussion on potential adjustments to yield curve control.
  • BOJ’s Nakagawa Speech in Okayama could provide forward guidance on inflation and policy stance.
United Kingdom 🇬🇧
  • BOE’s Lombardelli to speak after the Bank held rates at 4%; remarks could shed light on timing of future easing.
  • U.K. gilt yields climbed to 4.475% as inflation risks remain in focus.
Canada 🇨🇦
  • Strong October jobs data (+66.6k) boosted CAD; markets watching for follow-up commentary from BoC officials.
China 🇨🇳
  • Credit data expected this week (exact timing TBD); consensus sees RMB 1.2tn new credit, down from RMB 1.4tn last year.
  • Slower government bond issuance remains a drag on total financing growth.

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6499
AUD/NZD1.1552
AUD/JPY99.96
AUD/CNY4.6249
AUD/EUR0.5630
AUD/GBP0.4945
AUD/HKD5.0542

 

 

 

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