Global Markets Rise as USD Weakens on Soft U.S. Data

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Forex Market 

USD Slides as Weak US Data Lifts Majors and AUD Pushes Above
Another positive session on Wall St. saw the Dow Jones +1%, S&P 500 +0.4% and Nasdaq +0.3% entering the final hour of trade. US 10-year yields fell 3bps to 4.06% while Brent crude edged up to $62.60/bbl. The USD weakened broadly, allowing AUD/USD to trade at the top of its 0.65525–0.6601 range.
Asian markets finished mixed with the Hang Seng -1.3%, Shenzhen -0.5% and the Nikkei +1.4%. The ASX 200 gained +0.2%, supported by utilities (+0.9%) and energy (+0.8%). Australian 3Q GDP printed slightly weaker at 2.1% y/y (Exp. 2.2%), briefly dragging AUD/USD lower before a sharp recovery back toward 0.6590+.
European equities opened higher, led by STOXX +0.6% and DAX +0.4%, as EUR/USD rallied to 1.1663 – the highest since late October – and GBP/USD climbed to 1.3289. UK 10-year yields slipped to 4.465% while Brent surged further to $63.10/bbl.
The USD extended losses following a weak US ADP Employment print of -32k (prior +47k, exp +10k). AUD/USD climbed to 0.6599, NZD/USD to 0.5771, EUR/USD to 1.1675 and GBP/USD to 1.3347, while USD/JPY dropped to 155.01.
Late-session flows were subdued, but risk currencies remained supported heading into the Sydney open, with AUD/USD breaking above 0.6600.

General Market

Wall Street
  • Dow Jones: +1.0% → 47,927
  • S&P 500: +0.4% → 6,855
  • Nasdaq: +0.2% → 23,471
  • VIX: -3.5% → 16.01
  • US 10Y Yield: 4.06% (-3bps)
Asia-Pacific
  • ASX 200: +0.2% → 8,595
  • Shanghai Comp: -0.5% → 3,878
  • Nikkei: +1.1% → 49,865
Europe
  • CAC: +0.2% → 8,087
  • FTSE: -0.1% → 9,692
  • DAX: -0.1% → 23,694
  • STOXX: +0.6% (intraday)

Headlines to Watch 

United States
  • USD under pressure after ADP Employment prints –32k
  • ISM Services slightly higher at 52.6 but new orders and pricing softened
  • Yields drifting lower supporting risk currencies
Europe
  • EUR/USD hits highest level since Oct 29
  • ECB speakers due for further policy cues
  • Mixed close for DAX/FTSE despite strong intraday start
Asia / Australia
  • Australian GDP slightly misses expectations
  • AUD remains resilient above 0.6600
  • Nikkei outperforms as Hang Seng lags

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6601
AUD/NZD1.1434
AUD/JPY102.40
AUD/CNY4.6611
AUD/EUR0.5656
AUD/GBP0.4945
AUD/HKD5.1380

 

 

 

 

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