USD Slips on U.S.-EU Trade Optimism, ECB and PMIs Ahead

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Forex Market 

USD: Dollar Weakens as Trade Optimism Lifts Risk Assets
The greenback softened as hopes of a U.S.-EU trade deal supported sentiment and boosted risk-related currencies.

  • AUD/USD traded in a buoyant 0.65505–0.6603 range, last near 0.6600.
  • NZD/USD advanced to 0.6047 alongside stronger risk appetite.
  • EUR/USD slid to lows of 1.1711 despite broader USD weakness.
  • GBP/USD rose to 1.3585 late in trade.
  • USD/JPY fell to 146.12, hitting multi-week lows.
  • USD/CAD dipped to 1.3576 before rebounding to 1.3628 on data.

 

AUD: Firm on Positive Trade Headlines
AUD/USD pushed through recent highs and remains supported ahead of key central bank events.

 

Key Economic Data Ahead (Sydney Time)

 

General Market

Wall Street

Risk sentiment drove U.S. equities higher:
  • Dow Jones +1.1%
  • S&P 500 +0.6%
  • Nasdaq +0.8%
U.S. 10-year yields rose 4bps to 4.38%; Brent crude edged up 0.1% to $68.70/bbl.
Asia-Pacific
  • Nikkei +3.5%, Hang Seng +1.6%, Shenzhen flat
  • ASX +0.7% (materials and energy strong)
Europe
  • Stoxx +1.4%, FTSE +0.5%, DAX +1%, CAC +1.4%

Headlines to Watch

  • Bessent Comments on Tariffs and Fed – Downplayed EU’s 30% retaliatory tariffs, cited progress with China; avoided rate speculation but hinted Powell could exit in May.
  • U.S. Existing Home Sales – Fell 2.7% MoM to 3.93m (vs. 4.00m est.).
  • EU Consumer Confidence – Improved to -14.7 (vs. -15.0 est.).
  • Trade Deal Progress – Reports suggest U.S. and EU nearing a deal with tariffs set at 15%.

 

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6601
AUD/NZD1.0916
AUD/JPY96.62
AUD/CNY4.7236
AUD/EUR0.5605
AUD/GBP0.4860
AUD/HKD5.1814

 

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