NZ CPI Misses Forecast; Focus Shifts to China Loan Prime Rates

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Forex Market

USD: Drifts Lower Despite Strong U.S. Data
The U.S. dollar was modestly weaker on Friday even as strong housing and sentiment data boosted optimism. Inflation expectations eased, limiting upside for the greenback.
  • AUD/USD traded 0.64865–0.6541, closing near 0.6509.
  • NZD/USD topped out at 0.59905 late in the session.
  • EUR/USD hit highs of 1.1672 before easing back toward 1.1620.
  • GBP/USD rallied to 1.34755 then slipped toward 1.3400.
  • USD/JPY dipped to 148.18 after earlier highs above 149.00.
  • USD/CAD slid to 1.36965 from earlier 1.3775 highs.

 

AUD: Gains Fade After Early Strength
AUD moved higher on softer USD post-data, reaching 0.6541 before closing near 0.6510. Resistance remains near 0.6600, with strong demand at 0.6400.

 

Key Economic Data Ahead (Sydney Time)

 

General Market

Wall Street

A muted session ended mixed:
  • Dow Jones -0.3%
  • S&P 500 flat
  • Nasdaq flat
U.S. 10-year yields eased to 4.42%; Brent crude slipped to $69.20/bbl.
Asia-Pacific
  • Hang Seng +1.0%, Shenzhen +0.6%, Nikkei -0.2%
  • ASX +1.4% (health care +2.5%, materials +2.0%)
Europe
  • Stoxx +0.4%, FTSE +0.1%, DAX +0.4%, CAC +0.4%

 

Headlines to Watch

  • U.S. Housing Starts Beat
    June starts rose 4.6% to 1.321m vs. 1.300m est.; permits also stronger.
  • Michigan Sentiment Rises
    July at 61.78 (vs. 61.5 est.), with inflation expectations easing sharply.
  • Trade Tensions Simmer
    Reports Trump considering 15–20% tariffs on EU goods.

 

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6510
AUD/NZD1.0944
AUD/JPY96.68
AUD/CNY4.6789
AUD/EUR0.5598
AUD/GBP0.4853
AUD/HKD5.1088

 

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