USD: Wall St. Slides; AUD Soft Ahead of Key Data

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Forex Market 

USD: Wall St. Slides; AUD Soft Ahead of Key Data

Wall Street finished lower overnight, with all major indices retreating as risk sentiment weakened.
The Nasdaq fell -0.9%, Dow Jones -0.7%, and S&P 500 -0.5%.
U.S. 10-year yields held steady at 3.95%, while Brent Crude surged 3.6% to $63.50/bbl.
The AUD/USD traded between 0.6478–0.6512, settling around 0.6485/90 ahead of the Asian open.
Asian equities also weakened, with Hang Seng -1%, Shenzhen -3%, and the Nikkei flat.
Locally, the ASX 200 fell -0.7%, led by losses in materials (-3.1%) and industrials (-0.9%).
The AUD/USD trended higher during the session but eased back before the European open.
European markets opened mixed:
CAC -0.5%, Stoxx -0.3%, FTSE +0.6%, and DAX unchanged.
U.K. 10-year yields declined to 4.40%, while Brent Crude climbed further to $62.25/bbl.
In the UK, CPI came in weaker than expected at 3.8% y/y (vs. 4.0% est.).
GBP/USD dropped 40 pips after the release, extending losses to 1.3307 before the NY session as the USD strengthened broadly.
  • AUD/USD dipped to 0.6482 lows, while NZD/USD fell to 0.57385, and EUR/USD to 1.1577.
  • USD/CAD rose to 1.4032, while USD/JPY broke through 152.00.
  • Headlines that the U.S. was considering export curbs on China-linked software weighed further on Wall Street, extending losses through the NY afternoon.
  • The antipodeans remained under pressure: AUD/USD 0.6479, NZD/USD 0.57365, while EUR/USD touched new highs at 1.16225.
  • USD/CAD eased to 1.3976, supported by 4% gains in crude.

 

Key Economic Data Ahead (Sydney Time)

General Market

Wall Street

  • Dow Jones -0.7% to 46,590
  • S&P 500 -0.5% to 6,699
  • Nasdaq -0.9% to 22,740
  • VIX +4.0% to 18.59

Asia-Pacific

  • ASX 200 -0.7% to 9,030
  • Shanghai Comp -0.1% to 3,914
  • Nikkei flat at 49,308

Europe

  • FTSE +0.9% to 9,515
  • DAX -0.7% to 24,151
  • CAC -0.6% to 8,207

Headlines to Watch 

  • United States:
    A quieter day expected ahead, with limited economic data. The Chicago Fed National Activity Index will be closely watched for signs of momentum in U.S. growth.
  • Australia:
    AUD/USD remained within its familiar range overnight, with demand expected near 0.6420 and resistance around 0.6530/40.
  • Canada:
    Retail Sales (Aug) data due later today could offer clues on consumption trends.
  • Japan:
    September CPI to provide insight into inflation dynamics as the BoJ maintains its ultra-loose policy stance.

Mid-market rates

Currency PairMid-market Rate
AUD/USD0.6489
AUD/NZD1.1312
AUD/JPY98.59
AUD/CNY4.6221
AUD/EUR0.5590
AUD/GBP0.4860
AUD/HKD5.0433

 

 

 

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