Global Markets Rebound as Risk Sentiment Improves

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Forex Market 

USD: Wall St. Rebounds; AUD Holds Firm Near 0.6500

Wall Street posted a strong rebound overnight, supported by upbeat U.S. data and dovish comments from the Fed. Risk sentiment improved broadly, pushing equities higher while the USD strengthened across majors. The AUD/USD traded resiliently, holding above 0.6500 despite global USD strength.
Currency Highlights:
  • AUD/USD traded between 0.6459–0.65125, settling near 0.6505/10 ahead of the Asian open.
  • Asian equities were mixed — Nikkei -2.5%, Hang Seng -0.1%, Shenzhen +0.2%. The ASX 200 -0.1%, led lower by tech (-2.7%) and real estate (-1.2%).
  • NZD weakened after soft jobs data: unemployment rose to 5.3%, the highest in nine years, while employment fell -0.6% y/y.
  • AUD/NZD advanced 30 pips to fresh 12-year highs after the release.
  • European session: limited FX movement; EUR/USD hit 1.1476, GBP/USD eased from 1.3053 highs, USD/JPY rose to 153.85, USD/CAD climbed to 1.4139.
  • U.S. data: October ADP Employment +42k (vs. -29k prior), ISM Services 52.4 (from 50.0), signaling solid momentum.
  • The USD strengthened post-data, with EUR/USD and GBP/USD dipping, while AUD/USD briefly led gains above 0.6500.
  • Fed’s Miran said rates “could be a little lower” and a December cut would be “reasonable.”
  • Late trade saw the USD drift lower, with AUD/USD touching 0.65125 highs, NZD/USD at 0.5664, as Wall St. ended firmer.

Key Economic Data Ahead (Sydney Time)

General Market

Wall Street
  • Dow Jones +0.6% to 47,372
  • S&P 500 +0.8% to 6,825
  • Nasdaq +1.2% to 23,622
  • VIX -8.6% to 17.36
Asia-Pacific
  • ASX 200 -0.1% to 8,802
  • Shanghai Comp +0.2% to 3,969
  • Nikkei -2.5% to 50,212
Europe
  • FTSE +0.6% to 9,777
  • DAX +0.4% to 24,050
  • CAC +0.1% to 8,074

Headlines to Watch 

🇬🇧 United Kingdom
  • The BoE is expected to hold rates at 4.0% at its November meeting later tonight.
  • Markets price only a 30% chance of a cut, as inflation remains at 3.8% y/y.
  • The December meeting is viewed as “live,” with the Nov 26 Budget a key factor for policymakers.
🇪🇺 Eurozone
  • ECB officials Schnabel and Lane to speak on policy and inflation outlook.
  • Slightly firmer regional CPI data may support the ECB’s data-dependent stance.
🇺🇸 United States
  • ISM Services Index rose to 52.4 (vs. 50.0 prior), confirming steady expansion.
  • Markets await jobless claims and productivity figures for further Fed cues.
🇦🇺 Australia
  • AUD/USD remains steady within 0.6459–0.65125 range.
  • Support near 0.6450, resistance at 0.6570 as risk appetite improves post-Wall St. rebound.
🇳🇿 New Zealand
  • Unemployment rose to 5.3%, and employment fell -0.6% y/y, weighing on NZD.
  • AUD/NZD touched 12-year highs, reflecting divergence in labor market trends.

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6508
AUD/NZD1.1488
AUD/JPY100.27
AUD/CNY4.6369
AUD/EUR0.5661
AUD/GBP0.4985
AUD/HKD5.0594

 

 

 

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