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Mixed Global Equities, Stable Commodities, Tight Currency Ranges

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Forex Market 

USD Range-Bound as Liquidity Thins; AUD Holds Above Key Support

A muted overnight session saw the USD stabilise after early softness, with major pairs confined to tight ranges amid reduced liquidity. AUD/USD traded narrowly before settling just above 0.7070, while EUR/USD and GBP/USD remained contained. USD/JPY and USD/CAD showed limited directional movement, reflecting cautious positioning ahead of economic releases.
As European markets came online, the USD recovered from early losses, with AUD/USD briefly dipping before stabilising. Buying interest in AUD/USD is noted near the 0.7000 support zone, while offers build on rallies toward the 0.7200 area.
Canada’s January housing starts missed expectations, although manufacturing sales exceeded forecasts. USD/CAD remained near session highs ahead of the CPI release, which will guide market expectations for the Bank of Canada’s March policy decision.

 

General Market

Wall Street

  • S&P 500: Flat
  • Dow Jones: Slightly positive
  • Nasdaq: Slightly lower
  • VIX: Increased modestly

Asia-Pacific

  • ASX 200: Positive, led by tech sector gains
  • Shanghai Composite: Lower
  • Nikkei 225: Slightly lower
  • Hang Seng: Modest gains

Europe

  • FTSE 100: Positive
  • DAX: Slightly lower
  • CAC 40: Modest gains
  • Stoxx 600: Positive early trade

 

Headlines to Watch

Australia

  • RBA Minutes expected to provide limited surprises given recent Board commentary.

United States

  • ADP employment data may influence labour market expectations.
  • Fed’s Barr speech could provide insights on AI productivity and labour trends.

Canada

  • January CPI will be critical for shaping expectations ahead of the Bank of Canada’s March policy decision.

Japan

  • Tertiary Industry Index will indicate domestic services activity and momentum.
Currency Pair Mid-market Rate
AUD/USD 0.7073
AUD/NZD 1.1728
AUD/JPY 108.65
AUD/CNY 4.8852
AUD/EUR 0.5968
AUD/GBP 0.5190
AUD/HKD 5.5273

 

 

 

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