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USD: Slips as Tariff Tensions Weigh and Commodities Rally
The USD weakened as markets digested the latest tariff headlines and mixed Fed commentary. Commodity currencies outperformed amid a broad rebound in risk sentiment.
- AUD/USD rose to 0.6583, trading in a 0.6534–0.6591 range.
- NZD/USD gained to 0.6028, its highest in over a week.
- EUR/USD found support at 1.1702, bouncing back to 1.1714.
- GBP/USD recovered from 1.3685 lows.
- USD/JPY peaked at 146.55 before retreating.
- USD/CAD hit highs at 1.3705 before easing.
AUD: Rallies as Commodities Recover
The Aussie advanced strongly, supported by broad-based commodity gains, especially in copper and iron ore. The ASX rose 0.6%, led by materials and industrials.
Key Economic Data Ahead (Sydney Time)
General Market
Wall Street
U.S. equities closed modestly higher:
- Dow Jones +0.4%
- S&P 500 +0.2%
- Nasdaq +0.1%
U.S. 10-year yields rose slightly to 4.35%, while brent crude dropped 1.8% to $68.90/bbl.
Asia-Pacific
Mixed tone in Asian equities:
- Hang Seng +0.6%
- Shenzhen +0.5%
- Nikkei -0.4%
- ASX +0.6%
Materials and industrials were top performers in Australia.
Europe
European indices were firm:
- FTSE +1.1%
- CAC +0.7%
- Stoxx +0.3%
- DAX +0.2%
UK gilts rallied on weaker economic expectations, while copper and energy prices lifted sentiment.
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