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Global Markets Steady as Investors Await Key Data

October 16, 2025

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Forex Market

USD: Wall St. Steady; AUD Awaits Labour Data

Wall Street ended steady overnight amid mixed data releases and renewed trade uncertainty after comments from U.S. Treasury Secretary Bessent, who blamed Democrats for the ongoing government shutdown and expressed skepticism about China’s role in global supply chains.

The Dow Jones gained +0.1%, S&P 500 +0.5%, and Nasdaq +0.6%, while U.S. 10-year yields were unchanged at 4.04% and Brent Crude slipped 0.7% to $62/bbl.

The AUD/USD traded between 0.6482–0.6523, settling around 0.6500/05 ahead of the local session, with support expected near 0.6420 and resistance around 0.6530/40.

Asian equities finished broadly higher as risk sentiment improved, while European markets were mixed amid ongoing central bank commentary.

AUD/USD climbed to highs of 0.6523 before easing back to the 0.6490 area as risk appetite faded.
NZD/USD slipped to 0.5706, while USD/CAD rose to 1.4060.
EUR/USD and GBP/USD reached highs of 1.1648 and 1.3403, respectively, before drifting lower into late trade.
Treasury Secretary Bessent’s and Fed’s Miran’s comments on U.S.–China relations and rare-earth exports added mild downside risk.

Focus today turns to Australia’s September Unemployment Rate, U.S. jobless claims, and Retail Sales data, with Macquarie Strategy expecting employment growth to pick up +25k MoM and the unemployment rate to hold steady at 4.2%.

Key Economic Data Ahead (Sydney Time)

General Market

Wall Street

Dow Jones +0.1% to 46,262
S&P 500 +0.5% to 6,676
Nasdaq +0.6% to 22,665
VIX -1.8% to 20.43

Asia-Pacific

ASX 200 +1.0% to 8,991
Shanghai Comp +1.2% to 3,912
Nikkei +1.8% to 47,673

Europe

FTSE -0.3% to 9,425
DAX -0.2% to 24,181
CAC +2.0% to 8,077

Headlines to Watch

Wall St. holds steady as the Nasdaq gained +0.7%, S&P 500 +0.5%, and Dow Jones +0.1%, while U.S. 10-year yields remained unchanged at 4.04%.
Asian equities extended gains with Nikkei and Hang Seng +1.8%, Shenzhen +1.5%, and the ASX 200 +1%, led by strength in healthcare and materials.
European markets were mixed: CAC +2.6%, Stoxx +1.5%, DAX +0.3%, while FTSE slipped -0.3%; U.K. 10-year yields eased to 4.54%.
USD mixed across majors — EUR/USD and GBP/USD advanced to 1.1648 and 1.3403, while AUD/USD briefly touched 0.6523 highs before easing to 0.6490.
U.S. Empire Manufacturing Index for October surprised to the upside at 10.7 (vs. -8.7 prior, -1.8 expected), while Canadian Manufacturing Sales fell 1.0%, better than the -1.5% forecast.
Treasury Secretary Bessent warned that the U.S. government shutdown could cost the economy $15 billion per day, while commenting that China remains unreliable in global supply chains.
Fed’s Miran cautioned that China’s rare-earth export restrictions reintroduce trade uncertainty and downside risks.
Risk sentiment softened late in the NY session, with AUD/USD retreating toward 0.6490 and NZD/USD hitting new lows of 0.5706, while Wall St. ended modestly higher (Nasdaq +0.5%, S&P 500 +0.3%).

Mid-market rates

Currency Pair	Mid-market Rate
AUD/USD	0.6504
AUD/NZD	1.1385
AUD/JPY	98.20
AUD/CNY	4.6352
AUD/EUR	0.5585
AUD/GBP	0.4853
AUD/HKD	5.0574

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