Markets Hold Steady Before Key RBA and U.S. Data Releases

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Forex Market 

USD: Sentiment Rebounds, Wall St. Lifts as Risk Appetite Returns

Risk appetite improved to start the week, with Wall Street rebounding strongly and commodity-linked currencies recovering ground. The Nasdaq gained +2.1%, the S&P 500 +1.4%, and the Dow Jones +1.2% late in the North American session. Fixed income markets were closed for the Columbus Day holiday, while Brent Crude rose 0.9% to $63.30/bbl. The AUD/USD traded within a 0.6488–0.65325 range before settling at 0.6515/20 ahead of the Asian open.
The AUD/USD traded within a 0.6488–0.65325 range before closing near 0.6520, supported by renewed risk appetite and stronger equity sentiment.

 

  • AUD/USD reached session highs of 0.65325 before easing modestly into the Asian close. Demand is expected ahead of 0.6420, with resistance seen around 0.6530/40.
  • AUD/NZD traded between 1.133–1.1379, while NZD/USD held between 0.5719–0.5769.
  • EUR/USD ranged from 1.15575–1.162975, and GBP/USD traded between 1.3314–1.33655, both steady amid quiet European trade as U.S. markets observed the holiday.
  • USD/JPY moved up to 152.46 before drifting lower to 151.40, reflecting mild consolidation in broader USD strength.
  • USD/CAD extended to 1.4039 highs as the pair found support on firm USD sentiment, while USD/CNH held within 7.132–7.1439.
  • The USD Index (DXY) traded between 98.834–99.346, closing slightly higher on the day.

 

Equities were mixed globally — Asian markets finished weaker following renewed trade tensions (Hang Seng -1.5%, Nikkei -1%, Shenzhen -0.5%). The ASX 200 fell -0.8%, led by declines in technology (-2%), financials (-1.2%), and healthcare (-1.2%).
European equities opened firmer, with Stoxx +0.7%, CAC +0.7%, DAX +0.5%, and FTSE +0.1%, supported by softer yields and higher crude prices.

 

Key Economic Data Ahead (Sydney Time)

 

General Market

Wall Street
  • Dow Jones +1.2% to 46,018
  • S&P 500 +1.4% to 6,643
  • Nasdaq +2.1% to 22,674
  • VIX -11.7% to 19.12
Asia-Pacific
  • ASX 200 -0.8% to 8,883
  • Shanghai Comp -0.2% to 3,890
  • Nikkei -1.0% to 48,089
Europe
  • FTSE +0.2% to 9,443
  • DAX +0.6% to 24,388
  • CAC +0.2% to 7,934

 

Headlines to Watch 

  • Australia:
    Minutes from the RBA’s September meeting are expected to be relatively benign, following the consensus decision to hold rates steady.
  • United States:
    The NFIB Small Business Optimism report is due later tonight and could attract attention as it is unaffected by the government shutdown. Fed’s Collins will speak at the Greater Boston Chamber of Commerce — remarks may be closely monitored as Collins is a voting member of the FOMC in 2025.
  • United Kingdom:
    Focus will be on August employment data and comments from BOE’s Taylor and Bailey, which could provide clues on the Bank’s next policy direction amid sticky inflation concerns.
  • Eurozone:
    Remarks from ECB officials Makhlouf, Kocher, and Villeroy will be watched for guidance on future rate moves as markets assess the balance between growth risks and inflation pressures.

 

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6513
AUD/NZD1.1389
AUD/JPY99.20
AUD/CNY4.6451
AUD/EUR0.5630
AUD/GBP0.4886
AUD/HKD5.0673

 

 

 

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