Aussie Dollar Rebounds As US Gov Looks to Reopen

AUD

The AUD opens up across most of the major currencies as the US government looks to reopen. Asian equities finished this session mostly firmer, Nikkei +0.4%, Hang Seng +0.8%, and Shenzhen -0.1%. The ASX 200 closed -0.2%, info tech absorbing the brunt of selling -3.3%. Commodities traded relatively flat however, Crude Oil lost 4.4% yesterday. Yesterday a quiet day for the Aussie and Asia. Today, October Employment change forecasted at 20K Jobs added and the Unemployment rate to decrease from 4.5% to 4.4% with the RBA using this to dictate further rate decisions. Tomorrow we have the Chinese Unemployment Rate and New Loans data. No major data for the AUD for the rest of the week
 

USD

AUDUSD opens up in the 15-20 basis point range at 0.6542 off the back of speculation the government shutdown is set to end as the House of Representatives is expected to vote today. Another mixed session on Wall St ahead of the U.S. Government vote to end the shutdown saw the Dow Jones trading +0.8%, the S&P 500 +0.1%, and the Nasdaq -0.3%. U.S. 10-year yields fell 5bps to 4.06%, while Brent Crude fell 3.9% to $62.63 a barrel. Today and for the remainder of the week FOMC members due to speak across the country on an array of topics none of which expected to impact currency markets.

EUR

AUDEUR opens the day up 10 basis points from yesterday's open at 0.5642. European equities closed up across the board, DAX +1.2% and CAC +1%. Yesterday, low currency impacting German Final CPI and Italian Industrial Production data out. Today, similar again Industrial Production m/m and ECB Economic Bulletin out this evening. PMI’s next Friday are what’s next for the Eurozone.

GBP

AUDGBP opens stronger after a big push in the overnight sessions just missing the 50 handle, to open at 0.4982. The FTSE closes in the green just, up +0.1%. Yesterday was a quiet day for the Pound, but today all eyes are on the GDP m/m data this evening at 6pm, expected flat at 0.0% growth after last month’s minimal growth at 0.1%.
 

NZD

AUDNZD opens relatively flat at 1.1542, little to no movement from yesterday. No data set or expected from the Kiwis until their cash rate decision on the 26th.