Markets Steady as Wall Street Rebounds; Dovish FOMC Minutes Signal More Easing Ahead

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Forex Market 

USD: Firm as Wall St Rebounds, Majors Range-Bound

The USD held firm overnight as Wall Street rebounded, led by tech and energy gains. The Nasdaq rose +1.0%, the S&P 500 gained +0.6%, and the Dow Jones added +0.1%. U.S. 10-year yields were steady at 4.13%, while Brent Crude climbed +1.2% to $66.30/bbl.
AUD/USD traded in a 0.65565–0.6588 range before settling near 0.6580/85 ahead of the Asian open.

  • AUD/USD traded between 0.6579–0.6624, holding steady near the lower end as London trade began before rebounding late in the session.
  • AUD/NZD surged by ~80 pips after the RBNZ’s 50bps rate cut to 2.5% (est. 2.75%), while NZD/USD fell from 0.5795 to 0.5743 before partially recovering.
  • EUR/USD touched lows of 1.1601, weighed by political uncertainty in France amid talks of a potential new premier.
  • GBP/USD hit 1.3379, later rebounding modestly toward 1.3442 on late USD pullback.
  • USD/JPY advanced beyond the 150.00 level, reaching 151.41, despite hawkish commentary from officials suggesting discomfort with further yen weakness.
  • USD/CAD traded within 1.3932–1.3962, tracking oil price gains.
  • DXY steadied near 99.009, reflecting muted trade during the ongoing U.S. government shutdown.

 

Key Economic Data Ahead (Sydney Time)

 

General Market

 
Wall Street
  • Dow Jones +0.1% to 46,628
  • S&P 500 +0.6% to 6,752
  • Nasdaq +1.1% to 23,036
  • U.S. 10-year yields steady at 4.13%
  • WTI crude +0.9% to $62.3/bbl
  • Gold near record $4,030/oz
Asia-Pacific
  • ASX 200 -0.1% to 8,948
  • Shanghai Comp +0.5% to 3,883
  • Nikkei -0.5% to 47,735
  • Hang Seng -0.5%
  • Shenzhen +0.5%
Europe
  • FTSE +0.7% to 9,549
  • DAX +0.9% to 24,597
  • CAC +1.1% to 8,060
  • Stoxx +0.6%
  • U.K. 10-year yields eased to 4.71%
  • Brent Crude +0.5% to $65.95/bbl

Headlines to Watch 

  • United States: The government shutdown continues, keeping key data releases on hold. Markets await progress before the weekend.
  • New Zealand: The RBNZ delivered a 50bps rate cut to 2.5%, larger than the expected 25bps. Policymakers noted easing inflationary pressures but maintained an easing bias.
  • Japan: The PPI data due today will provide clues on producer cost trends. USD/JPY remains anchored near the 151.80–153.00 range.
  • Europe: Political headlines in France continue to dominate, with speculation around Macron’s potential cabinet reshuffle.

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6585
AUD/NZD1.1380
AUD/JPY100.51
AUD/CNY4.6887
AUD/EUR0.5662
AUD/GBP0.4914
AUD/HKD5.1248

 

 

 

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