Global markets wait on shutdown vote
The Dow Jones hit an all-time high while the US dollar extended its five-day losing streak as investors awaited a key House vote to end the 43-day government shutdown.
The House of Representatives is set to vote Wednesday night (US time), with President Trump expected to sign off later that evening.
The greenback has softened as the deal nears, compounded by disappointing US job numbers that continue to weigh on sentiment.
RBA questions inflation fight
RBA officials are debating whether the current 3.6% cash rate is doing enough to curb inflation, Deputy Governor Andrew Hauser told Reuters.
Hauser said the view that policy is “mildly restrictive” underpins expectations for cooling prices—but that assumption is under pressure.
“Our best guess is that policy is still marginally restrictive,” Hauser noted, “but if that judgment changes, it could reshape our future stance.”
The Aussie will take its cue from today’s jobs report at 11:30am AEDT, with markets looking for a rebound after September’s weak print.
AUD/USD is holding above 0.6500, supported by USD softness. Resistance sits at the 50-day EMA (0.6536) and 0.6600.
USD/SGD climbs as weak US jobs data clouds outlook
US private payrolls fell by an average of 11,250 per week through October 25, according to ADP, one of the slowest paces on record. The monthly estimate shows just 13,000 jobs added over two months, signalling a cooling labour market.
Small business sentiment held steady at 98.2 in October, but optimism faded: only 20% expect conditions to improve. Labor quality remains the top concern for 27% of firms, especially in construction and transport.
In Asia, the US dollar is regaining ground. USD/SGD has bounced, now trading 2.6% above its July low of 1.2698. Key support sits at the 21-day EMA (1.3000) and 50-day EMA (1.2953), where buyers may step in, echoing patterns flagged earlier.
USD lower for fifth day
Table: seven-day rolling currency trends and trading ranges
Key global risk events
Calendar: 10 – 15 November
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*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.
