Tech Gains Lift Wall St. Ahead of U.S. CPI

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Forex Market 

USD: Tech Strength Lifts Wall St.; AUD Steady Ahead of Key Data

Wall Street gained overnight, buoyed by strength in the technology sector. The Nasdaq rose +0.9%, S&P 500 +0.6%, and Dow Jones +0.3%.
U.S. 10-year yields climbed 5bps to 4.00%, while Brent Crude jumped 5.3% to $65.90/bbl.
The AUD/USD traded between 0.6479–0.6518, settling near 0.6510 ahead of the Asian open.
  • Asian equities ended mixed: Hang Seng +0.7%, Shenzhen -0.3%, Nikkei -1.4%.
    The ASX 200 finished flat, though the energy sector surged +3.2%.
  • European equities opened mixed: CAC +0.4%, Stoxx +0.3%, FTSE +0.1%, DAX -0.3%.
    U.K. 10-year yields rose to 4.43%, while Brent Crude climbed +2.5% to $65.10/bbl.
    EUR/USD and GBP/USD dipped to 1.1591 and 1.3296, respectively, before recovering.
  • NZD/USD hit highs of 0.5749, while USD/JPY made highs near 152.78.
  • Canadian Retail Sales (Aug) rose +1.0% MoM, in line with expectations, though the core reading of +0.7% missed forecasts.
  • Chinese oil majors reportedly paused seaborne Russian crude purchases amid sanction risks, pushing crude up nearly 6%.
  • U.S. Existing Home Sales (Sep) rose 1.5% to 4.06M, as expected.
    EU Consumer Confidence (Oct) improved to -14.2, beating forecasts of -15.0.
    The USD weakened post-data, lifting AUD/USD to 0.6518, NZD/USD to 0.5754, and EUR/USD to 1.1620.
  • White House confirmed President Trump will meet Xi Jinping next Thursday, with a Putin meeting also possible.
  • Wall Street closed broadly higher: Nasdaq +1.1%, S&P 500 +0.7%, Dow Jones +0.4%.
    The USD softened late in trade, led by gains in EUR/USD and NZD/USD.

Key Economic Data Ahead (Sydney Time)

 

General Market

Wall Street

  • Dow Jones +0.3% to 46,753
  • S&P 500 +0.7% to 6,746
  • Nasdaq +0.9% to 22,956
  • VIX -7.4% to 17.22

Asia-Pacific

  • ASX 200 0.0% to 9,033
  • Shanghai Comp +0.2% to 3,922
  • Nikkei -1.4% to 48,642

Europe

  • FTSE +0.7% to 9,579
  • DAX +0.2% to 24,208
  • CAC +0.2% to 8,226

Headlines to Watch 

  • United States:
    CPI for September will be released tonight, proceeding despite the government shutdown as staff have been recalled for the report.
    Consensus expects +0.3% MoM, matching August’s increase. Upside risks may stem from tariff pass-through in core goods, though the Cleveland Fed nowcast suggests downside risks.
    October PMI data may draw added focus amid limited official releases, with September’s readings showing continued expansion in manufacturing and services.
  • Australia:
    Remarks from RBA’s Bullock and the Westpac Leading Index will provide insight into the domestic outlook following the central bank’s steady policy stance.

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6515
AUD/NZD1.1321
AUD/JPY99.41
AUD/CNY4.6392
AUD/EUR0.5608
AUD/GBP0.4888
AUD/HKD5.0632

 

 

 

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