USD Surges on Robust U.S. Data as BOJ Decision Looms

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Forex Market 

USD: Mixed Strength on Strong Data
The USD rallied overnight after upbeat jobless claims and Philly Fed data, but pared some gains late in the session.
• AUD/USD traded in a 0.66075–0.6660 range, settling near 0.6610 into the Sydney open
• EUR/USD dipped to 1.17505 before rebounding to 1.18385
• GBP/USD traded to lows of 1.3534, recovering to 1.3648
• USD/JPY rose to 148.265 highs
• USD/CAD hit highs of 1.3810 before trimming gains
• NZD/USD fell to 0.58725
AUD: Traded Heavy, Support Still Holding
AUD/USD briefly touched the 0.66075 low after U.S. data beat, then found footing late in the NY session.
• Offers expected ahead of 0.6720/25
• Demand seen building near 0.6600

Key Economic Data Ahead (Sydney Time)

 

General Market

Wall Street

Another record-setting day on Wall St.:
• Nasdaq +1.0%
• S&P 500 +0.5%
• Dow Jones +0.2%
U.S. 10-yr yields edged up 2bps to 4.11%; Brent Crude fell 0.6% to $67.55/bbl.

Asia-Pacific Equities
Markets ended mixed:
• Nikkei +1.1%
• Hang Seng -1.4%
• Shenzhen -1.2%
• ASX 200 -0.8% (dragged by Energy -5.9%, Utilities -1.4%)
AUD/USD traded 0.66165–0.66585, with pressure in the local afternoon.

Europe
European bourses opened strong:
• DAX +1.3%
• CAC & Stoxx +1.2%
• FTSE +0.3%
U.K. Gilts bid to 4.63%, Brent climbed to $68.11. EUR and GBP recovered in early Europe.

Headlines to Watch

  • BOJ Target Rate Decision (Sep 19)

  • Japan National CPI y/y (Aug)

  • Governor Ueda Press Conference at BOJ

  • UK GfK Consumer Confidence (Sep)

  • UK Retail Sales Inc. Auto Fuel y/y (Aug)

  • Canada Retail Sales m/m (Jul)

 

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6608
AUD/NZD1.1237
AUD/JPY97.87
AUD/CNY4.6993
AUD/EUR0.5611
AUD/GBP0.4887
AUD/HKD5.1394

 

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