Markets Rally as Yields Fall, Metals Surge, and PMI Data Comes Into Focus

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Forex Market 

USD Softens as Risk Appetite Improves; Antipodeans Lead
The US dollar weakened overall as falling Treasury yields and strong equity sentiment supported risk currencies. AUD/USD pushed toward the top of its recent range, while EUR and GBP gained into the European close. Late Fed commentary briefly supported the greenback, but momentum faded into the session end.

General Market

Wall Street

  • Dow Jones: +1.5% | 49,096
  • S&P 500: +0.7% | 6,909
  • Nasdaq: +0.6% | 23,381
  • VIX: +2.3% | 14.85
US equities rallied despite geopolitical concerns, supported by lower yields and strong commodity prices.

Asia-Pacific

  • Nikkei: +3.0% | 51,833
  • Shanghai Comp: +1.4% | 4,023
  • ASX 200: flat | 8,729 (Tech -3%)
Asian markets closed broadly higher, led by Japan, while Australian equities lagged.

Europe

  • DAX: +1.3% | 24,869
  • FTSE: +0.5% | 10,005
  • CAC: +0.2% | 8,212
European equities finished firmer as the USD retreated and energy prices stabilised.

 

Headlines to Watch

US: Services PMI data to test the resilience of growth as markets assess how close the Fed is to its neutral rate
Australia: Services and Composite PMI prints to guide near-term AUD direction
UK: Services PMI in focus amid easing inflation but slowing activity signals
Eurozone: HCOB Services PMI to offer fresh insight into regional demand conditions
FX Markets: USD direction remains sensitive to yield moves following Fed commentary
Commodities: Gold and silver strength watched as Treasury yields drift lower 
Currency PairMid-market Rate
AUD/USD0.6713
AUD/NZD1.1601
AUD/JPY105.09
AUD/CNY4.6927
AUD/EUR0.5729
AUD/GBP0.4959
AUD/HKD5.2263

 

 

 

 

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