Global Markets Stabilise as USD Softens and Equities Rebound

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Forex Market 

USD Softens as Wall Street Stabilises and Risk Currencies Push Higher
A steady rebound on Wall St. saw the Nasdaq up +0.6%, the Dow +0.4% and the S&P +0.2%, while US 10-year yields held steady at 4.09% and Brent crude slipped to $62.50/bbl. Currency markets stayed mostly range-bound, with AUD/USD confined to a 0.6535–0.6570 band before settling near 0.6560 into Asia.
Asian equities were mixed, with Hang Seng up +0.2%, Shenzhen down -0.5% and the Nikkei flat. Locally, the ASX200 rose +0.2% supported by gains in energy (+1.1%) and materials (+0.7%), helping AUD/USD edge up to 0.6558 ahead of the London open.
European markets opened stronger with the DAX and STOXX up +0.5%, CAC +0.3% and FTSE +0.2%. However, EUR/USD and GBP/USD later softened to 1.1599 and 1.3181 respectively after Eurozone Core CPI printed in line at 2.4% YoY, while USD/JPY climbed through 156.00.
The USD weakened again in the NY morning session, lifting AUD/USD to 0.6570 and NZD/USD to 0.5744, while USD/CAD slipped to 1.3976. Wall St. remained choppy but positive, finishing with the Nasdaq +0.5%, Dow +0.2% and S&P +0.1%.

General Market

Wall Street

  • Dow Jones: +0.4% (47,485)
  • S&P 500: +0.3% (6,832)
  • Nasdaq: +0.7% (23,428)
  • VIX: -3.1% (16.70)

Asia-Pacific

  • ASX 200: +0.2% (8,580)
  • Shanghai Composite: -0.4% (3,898)
  • Nikkei: 0.0% (49,303)

Europe

  • FTSE: 0.0% (9,702)
  • DAX: +0.5% (23,711)
  • CAC: -0.3% (8,075)

Headlines to Watch 

Australia

  • Q3 GDP expected at +0.9% QoQ, driven by broad-based economic strength.
  • Risk of overheating may influence future RBA policy stance.

United States

  • ISM Services expected at 52.2, still in expansion territory.
  • Employment component watched for signs of labour market recovery.
  • Mixed data keeps timing of Fed rate cuts uncertain.

Europe

  • Core CPI held at 2.4% YoY, limiting downside pressure on the euro.
  • Any upside inflation surprise may reduce near-term ECB cut expectations.

Japan

  • Yen remains sensitive to US yields and speculation around BOJ policy shifts. 

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6573
AUD/NZD1.1449
AUD/JPY102.42
AUD/CNY4.6461
AUD/EUR0.5653
AUD/GBP0.4942
AUD/HKD5.1170

 

 

 

 

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