Global Markets Retreat as Tech Stocks Slide; China Data and US GDP in Focus

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Forex Market 

USD firms as risk sentiment weakens; AUD consolidates into week-end
The USD strengthened as global risk appetite deteriorated following renewed weakness in U.S. equities, particularly the technology sector. Higher U.S. yields also underpinned the greenback, with the U.S. 10-year yield rising 3bps to 4.19%.
  • AUD/USD: Traded in a 0.6634–0.6676 range, briefly pushing higher during Asia before retreating. The pair settled near 0.6654 to close the week, with demand expected ahead of 0.6600 and selling interest around 0.6695–0.6700.
  • EUR/USD: Weakened through the Asian and early London sessions, making lows near 1.1720–1.1723, before recovering in late NY trade to test 1.1750, remaining relatively resilient versus peers.
  • GBP/USD: Came under pressure alongside broader USD strength, sliding to lows of 1.3343 before stabilising into the close.
  • USD/JPY: Briefly dipped after comments from Bank of Japan officials suggesting rates could rise above 0.75%, but quickly rebounded to make new daily highs near 156.13 as NY trade began.
  • NZD/USD: Underperformed, falling to 0.5788 amid the broader risk-off tone.
  • USD/CAD: Pushed higher to 1.3794, despite Canadian Building Permits beating expectations, with little sustained reaction in early NY trade.

General Market

Wall Street

  • Dow Jones: -0.5% → 48,458
  • S&P 500: -1.1% → 6,827
  • Nasdaq: -1.7% → 23,195
  • VIX: +6.0% → 15.74

Asia-Pacific

  • ASX 200: +1.2% → 8,697
  • Hang Seng: +1.8%
  • Nikkei: +1.4% → 50,837
  • Shanghai Composite: +0.4% → 3,889

Europe

  • FTSE: -0.6% → 9,649
  • DAX: -0.4% → 24,186
  • CAC: -0.2% → 8,069

 

Headlines to Watch 

China

  • A full slate of November activity data to gauge the strength of the economic recovery and the effectiveness of recent policy support measures.

Canada

  • November CPI release following mixed inflation signals in October, with implications for the Bank of Canada’s medium-term policy outlook.

United States

  • Q3 GDP and Core PCE data in focus as markets assess growth and inflation dynamics ahead of future Fed policy decisions.

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6648
AUD/NZD1.1460
AUD/JPY103.58
AUD/CNY4.6896
AUD/EUR0.5663
AUD/GBP0.4972
AUD/HKD5.1747

 

 

 

 

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