Global Markets Drift Lower Ahead of Key Central Bank Decisions

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Forex Market 

USD: Holds Firm as Risk Sentiment Softens

The dollar held steady as weaker Wall Street sentiment and falling U.S. yields offset better economic data.

  • AUD/USD traded in a 0.6496–0.6530 range, closing near 0.6510/15.
  • NZD/USD touched 0.5943 in early NY trade.
  • EUR/USD fell to new lows at 1.15185.
  • GBP/USD dipped to 1.3308 before recovering modestly.
  • USD/JPY climbed to highs of 148.81.

AUD: Edges Lower, Finds Some Support
AUD/USD fell under 0.6500 in NY hours before recovering into Sydney open.

NZD: Under Pressure All Day
NZD/USD extended its drop, underperforming on the session.

 

Key Economic Data Ahead (Sydney Time)

 

General Market

Wall Street
Wall St. closed weaker:

  • Dow Jones -0.5%
  • S&P 500 -0.3%
  • Nasdaq -0.4%

U.S. 10-year yields dropped 9bps to 4.32%; Brent crude surged 4% to $72.80/bbl.

Asia-Pacific

  • Shenzhen +0.4%, Nikkei -0.8%, Hang Seng -0.1%
  • ASX +0.1% (energy +0.6%, health +0.3%)

Europe

  • CAC +1.3%, DAX +1.1%, Stoxx +1.1%, FTSE +0.5%
  • UK 10-yr Gilt yield eased to 4.64%
  • Brent crude traded at $70.30/bbl

 

Headlines to Watch

  • U.S. Trade Deficit – Fell to $86.0B in June, better than expected.
  • FHFA & Case Shiller Home Prices – Slipped MoM and YoY, slightly below forecasts.
  • U.S. Consumer Confidence – Rose to 97.2 in July (vs 96.0 expected).
  • JOLTS Job Openings – Fell to 7.437M (vs 7.5M forecast).
  • USD Maintains Strength – Most majors recover slightly off session lows.

 

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6513
AUD/NZD1.0934
AUD/JPY88.42
AUD/CNY4.6729
AUD/EUR0.5638
AUD/GBP0.4877
AUD/HKD5.1133

 

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