Aussie Dollar Sees Support Post RBA Meeting Minutes

AUD

The Australian Dollar opens largely flat against the majors but recovers slightly against the US dollar following the release of the RBA’s September meeting minutes. Asian equities ended mixed yesterday with the Hang Seng +0.3%, Nikkei -1.8% and the Shenzhen -0.3%. Locally, the ASX 200 closed unchanged, despite a fall of 4.4% in the technology sector. Yesterdays hawkish RBA meeting minutes reinforced expectations of further monetary policy tightening with policymakers highlighting the need to act promptly to keep inflation expectations anchored. Some minor data out today with MI Leading Index m/m set for release, however the main event for the week comes tomorrow morning with the release of the domestic employment report. Looking across Asia, the focus shifts to China’s CPI/PPI data today and tomorrow’s domestic employment figures, with the unemployment rate expected at 4.6%.

USD

AUDUSD opens higher at 0.6981 as a pullback in US Treasury yields weighs on the US Dollar. Wall St. rallied off its lows overnight although still closed in negative territory with the Dow Jones -0.4%, the Nasdaq -0.2% and the S&P 500 unchanged on the day. U.S. 10-year yields fell 3bps to 5.21%, while Brent Crude fell 1% to $105.70 a barrel. All market attention now turns to tonight's crucial US September Consumer Price Index (CPI) release, which could reveal clues on another US Fed Rate rise. Consensus expects headline and core inflation to rise by +0.6% MoM and +0.2% MoM, respectively. The Federal Reserve’s Beige Book is also due out and will provide an updated view of economic conditions and business sentiment across the US.

EUR

AUDEUR opens flat this morning at 0.6236, holding steady near recent multi-month highs as both the Aussie and the Euro experienced similar gains against a weakening US Dollar overnight. European stock markets closed slightly down with the  DAX and CAC both down -0.1%. The Eurozone focus today centers on scheduled speeches from European Central Bank President Christine Lagarde and other key monetary policy officials. The EU Economic Summit will also kick off its first of two days later this evening.

GBP

AUDGBP opens flat at 0.5268, trading in a tight stable range as gains in the Australian Dollar were matched by a firming British Pound. UK equity markets closed slightly down with the FTSE coming in at -0.1%. With an absence of major economic data out of the UK today, market focus remains centered on scheduled remarks from Bank of England Governor Andrew Bailey ahead of Thursday's key UK GDP figures.

NZD

AUDNZD opens slightly down at 1.2440, hovering near recent three-week highs. Visitor Arrivals m/m data released earlier this morning, printing at +2.8% from a previous +0.7%, its highest mark since November 2025. In the absence of tier-one economic releases out of New Zealand this week, the pair continues to be guided predominantly by broader global risk appetite and interest rate differentials.