Markets Hold Steady Ahead of Key US Data; AUD Gains on Strong Household Spending

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Forex Market 

USD Steady as Majors Consolidate; AUD Supported by Surprise Spending Data

A quiet and range-bound session played out across currency markets as the USD held relatively steady and majors consolidated near mid-range levels. AUD/USD settled around 0.6615, supported by stronger-than-expected Australian household spending, which surprised to the upside at 1.3% m/m.
EUR/USD and GBP/USD briefly dipped in early Europe before rebounding sharply to session highs. USD/JPY continued its downward drift, touching lows near 154.51, while NZD/USD and USD/CAD remained range-bound.

General Market

Wall Street
  • Dow Jones: -0.1% | 47,824
  • S&P 500: -0.1% | 6,840
  • Nasdaq: +0.1% | 23,472
  • VIX: +0.6% | 16.17
  • US 10Y: 4.11% (+4bps)
  • WTI Crude: US$59.70/bbl (+1.2%)
Asia-Pacific
  • Nikkei: +2.3% | 51,028
  • Hang Seng: +0.7%
  • Shenzhen: +0.4%
  • ASX 200: +0.3% | 8,618
  • Shanghai Comp: -0.1% | 3,876
Europe
  • DAX: +0.8% | 23,882
  • CAC: +0.4% | 8,122
  • FTSE: +0.2% | 9,711
  • Stoxx: +0.3%

 

Headlines to Watch 

United States
  • US personal income & spending for September delayed due to government shutdown; consensus expects flat MoM growth (+0.0%).
  • Core PCE Price Index for September expected at +0.2% MoM, shaping Fed’s December 10 policy expectations.
Canada
  • November labor force survey due; last month saw employment gains (+67k) and unemployment fell to 6.9%.
Asia / Australia
  • Australian household spending for October surprises at +1.3% MoM, driving AUD/USD near 0.6620 highs.
Europe / UK
  • UK November Construction PMI drops to 39.4, little impact on GBP/USD.
  • EU October retail sales flat MoM, +1.5% YoY, beating estimates.

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6606
AUD/NZD1.1470
AUD/JPY102.49
AUD/CNY4.6712
AUD/EUR0.5674
AUD/GBP0.4959
AUD/HKD5.1409

 

 

 

 

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