USD Steady Ahead of FOMC; AUD Holds Firm in Tight Range

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Forex Market 

USD Firm Ahead of FOMC; AUD Steady Despite RBA Hold

The USD traded broadly bid as markets remained cautious ahead of tomorrow’s FOMC decision. AUD/USD held within a tight 0.66095–0.66545 range, consolidating around 0.6640/45 ahead of the Asian open. The RBA kept rates on hold at 3.60%, noting firmer growth and persistent inflation pressures. AUD initially slipped to 0.66095 on the announcement before recovering toward 0.66485 later in the session. Buying support remains intact below 0.6600, while offers continue to build around 0.6675/80.
USD/JPY extended gains to 156.43, marking its highest level since late November as USD strength persisted across the board. EUR/USD and GBP/USD briefly pushed to 1.1657 and 1.3355 respectively in early trade but retreated into the middle of their daily ranges as European markets came online. Despite softer intraday flows, the Dollar Index stayed elevated near recent highs, reflecting persistent demand ahead of key central bank events.

General Market

Wall Street

  • Dow Jones: -0.2%
  • S&P 500: 0.0%
  • Nasdaq: +0.2%
  • U.S. 10-year yield: ↑ to 4.18%
  • Gold: above $4200/oz
  • Dollar Index: near 99.175 (top of range)

Asia-Pacific

  • Hang Seng: -1.3%
  • Shenzhen: -0.5%
  • Nikkei: +0.1%
  • ASX 200: -0.5%, dragged by tech (-1.3%) and healthcare (-0.9%)

Europe

  • DAX: +0.5%
  • CAC: -0.3% early, closing -0.7%
  • FTSE: flat
  • Stoxx: -0.1%

 

Headlines to Watch 

United States

  • USD firm as yields drift higher
  • NFIB Small Business Hiring Plans at 11-month high (19)
  • Market focus on FOMC Rate Decision – 10 Dec

Canada

  • BoC Rate Decision – 10 Dec
  • USD/CAD briefly hit 1.3839, before edging higher

Europe

  • Lagarde to speak in London
  • EUR/USD and GBP/USD soft at lower end of ranges
  • Mixed trading across major indices

Asia / Australia

  • RBA holds at 3.60%, acknowledges inflation risks
  • AUD stabilizes after initial drop
  • Asian indices mixed across session

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6640
AUD/NZD1.1491
AUD/JPY104.15
AUD/CNY4.6895
AUD/EUR0.5711
AUD/GBP0.4992
AUD/HKD5.1678

 

 

 

 

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