Markets Steady as Shutdown Looms; AUD Rises on RBA Hawkishness

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Forex Market 

USD: Mixed as Month Ends Ahead of Shutdown Concerns
The USD ended September on a softer note as Wall St. closed higher despite looming U.S. government shutdown risks. Treasury yields were little changed, while WTI crude fell on expectations of increased OPEC+ supply. AUD/USD traded near the top of its daily range as Asia came online, supported by hawkish RBA commentary.
  • EUR/USD climbed to intraday highs of 1.17615 before easing back.
  • GBP/USD tested lows of 1.3414 before rebounding to highs of 1.34665.
  • AUD/USD traded in a 0.6572–0.66285 range, closing firm near 0.6615.
  • USD/JPY slipped to lows near 147.70.
  • USD/CAD briefly touched highs of 1.3935 before pulling under 1.3900.
  • NZD/USD reached highs of 0.5808, matching earlier peaks.

 

AUD: Lifted by RBA and Broad Dollar Softness

The RBA left the cash rate unchanged at 3.6%, with the statement highlighting upside risks to Q3 inflation. Governor Bullock’s hawkish tone supported the AUD, which comfortably traded above the 0.6600 figure. Demand is seen toward 0.6600, with selling interest around 0.6640.
The ASX 200 underperformed, closing -0.2% as energy names retraced. 

 

Key Economic Data Ahead (Sydney Time)

 

General Market

 
Wall Street
U.S. equities closed in positive territory, shrugging off shutdown headlines.
  • Dow Jones +0.2% to 46,398
  • S&P 500 +0.4% to 6,688
  • Nasdaq +0.3% to 22,660
U.S. 10-year yields were steady at 4.15%. WTI crude fell -1.5% to $62.50/bbl.

 

Asia-Pacific
Asian equities ended mixed:
  • Nikkei -0.2% to 44,933
  • Hang Seng +0.9%
  • Shenzhen +0.5%
  • Shanghai Comp +0.5% to 3,883
  • ASX 200 -0.2% to 8,849

 

Europe
European equities traded higher:
  • FTSE +0.5% to 9,350
  • DAX +0.6% to 23,881
  • CAC +0.2% to 7,896
  • Stoxx flat to slightly higher

 

U.K. 10yr Gilts were steady at 4.7%. Brent crude dipped -1% to $67.3/bbl. 

 

Headlines to Watch 

  • Fed Commentary – Chair Powell signaled the Fed is in no rush to cut rates, stressing inflation remains “stubborn” in core services.
  • U.S. Data – September ISM Manufacturing Index expected tonight; markets watching for signs of demand slowdown.
  • Oil Prices – Brent crude steadied near $95 after last week’s sharp rally on supply concerns.
  • China Outlook – Beijing announced fresh stimulus measures, including tax breaks for SMEs and property support.
  • FX Moves – Dollar Index hovered near 12-month highs as yen slipped closer to BoJ’s intervention zone. 

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6503
AUD/NZD1.1407
AUD/JPY97.87
AUD/CNY4.7014
AUD/EUR0.5626
AUD/GBP0.4913
AUD/HKD5.1387

 

 

 

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