Key data due this week
Global markets rebounded on Friday after hitting fresh lows earlier in the session, as investors look ahead to a critical week of economic data and central bank decisions.
US equities staged a strong comeback with the Dow Jones closing up 1.1%, while the tech-heavy Nasdaq underperformed, gaining 0.9%.
Across the region, attention turns to Australia’s inflation data and the Reserve Bank of New Zealand meeting.
More broadly, the combined release of delayed US economic data following the recent government shutdown will be pivotal ahead of next month’s Federal Reserve decision.
Aussie, kiwi rebound from lows
The AUD/USD fell to a three-month low on Friday before rebounding to close 0.2% higher.
The pair remains in a clear downtrend, trading below all three major moving averages but holding above key support at 0.6400.
The NZD/USD dropped to a seven-month low before recovering 0.5%.
Greenback stronger in Asia; USD/SGD highest since May
The US dollar remains broadly firm in Asia despite a sharp reversal in USD/JPY, which fell 0.7%.
Most notably, USD/SGD climbed to its highest level since May, up 3.1% from September lows. Near-term buyers are eyeing 1.3030, with resistance at 1.3100.
Meanwhile, USD/CNH eased back to one-week lows.
USD remains mostly dominant
Table: seven-day rolling currency trends and trading ranges
Key global risk events
Calendar: 24 – 29 November
Have a question? [email protected]
*The FX rates published are provided by Convera’s Market Insights team for research purposes only. The rates have a unique source and may not align to any live exchange rates quoted on other sites. They are not an indication of actual buy/sell rates, or a financial offer.
