USD: Mixed Wall Street Session; Dollar Steadies Ahead of Central Bank

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Forex Market 

USD: Risk-Off Mood Deepens; RBA Holds Rates Steady at 3.60%
Commentary
Risk sentiment soured overnight as Wall Street slumped — Nasdaq -1.9%, S&P 500 -1.2%, and Dow Jones -0.7%. U.S. 10-year yields eased 3bps to 4.09%, while Brent crude dropped 0.7% to US$64.50/bbl.
The RBA left rates unchanged at 3.60%, in line with expectations, though Governor Bullock’s hawkish tone dampened sentiment, noting no discussion of rate cuts and no bias toward easing.
Asian equities mirrored Wall Street losses, with the Nikkei -1.7%, Hang Seng and Shenzhen -0.8%, and ASX 200 -0.9% as utilities and materials led declines. The AUD/USD trended lower through the session, trading between 0.6481–0.65395 and settling near 0.6490 as Sydney opened.

Key Economic Data Ahead (Sydney Time)

General Market

Wall Street

  • Dow Jones -0.7% to 47,077
  • S&P 500 -1.2% to 6,783
  • Nasdaq -1.9% to 23,449
  • VIX +9.7% to 18.84

Asia-Pacific

  • ASX 200 -0.9% to 8,814
  • Shanghai Comp -0.4% to 3,960
  • Nikkei -1.7% to 51,497

Europe

  • FTSE +0.1% to 9,715
  • DAX -0.8% to 23,949
  • CAC -0.5% to 8,068

Headlines to Watch 

New Zealand

  • Unemployment rate likely steady at 5.2%, below RBNZ’s 5.3% forecast
  • Employment growth expected +0.4% q/q, with downside risks from weak payroll data
  • Private-sector labour cost growth may slow to 0.5% q/q (2.2% y/y)

United States

  • ISM Services Index for October expected to rise to 50.9
  • USD continues to strengthen amid risk-off sentiment

Australia

  • RBA holds cash rate at 3.60%, reiterating no bias toward easing

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6489
AUD/NZD1.1496
AUD/JPY99.69
AUD/CNY4.6253
AUD/EUR0.5650
AUD/GBP0.4982
AUD/HKD5.0444

 

 

 

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