S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
- AUD/USD meets with a fresh supply on Friday, though the RBA’s hawkish tilt limits losses.
- Hormuz risks and Fed rate hike bets revive USD demand, exerting pressure on spot prices.
- Traders now look to the US Consumer Sentiment Index and Fedspeak for a fresh impetus.
The AUD/USD pair attracts fresh sellers following the previous day’s modest gains and drops to a fresh low since early April during the Asian session on Friday. Spot prices, however, recover a few pips in the last hour and currently trade just below the 0.6900 mark, still down over 0.25% for the day.
According to the third and final reading published by the US Bureau of Economic Analysis on Thursday, the economy grew at an annualized rate of 2.1% in the first quarter of 2026 compared to the second estimate of 1.6% rise. Adding to this, the US Personal Consumption Expenditures (PCE) Price Index highlighted persistent inflationary pressures, keeping an interest rate hike by the US Federal Reserve (Fed) this year firmly on the table. Apart from this, the cautious market mood helps the safe-haven US Dollar (USD) stall its corrective pullback from the highest level since May 2025, touched on Thursday, and exerts downward pressure on the AUD/USD pair.
Reports suggested that Iran’s Islamic Revolutionary Guard Corps (IRGC) attacked a Singapore-flagged cargo ship in the Strait of Hormuz. The latest development reignites worries about the sustainability of the preliminary US-Iran peace deal. Apart from this, the recent tech-driven selloff in the equity markets has triggered global risk aversion, which is seen as another factor behind the Greenback’s relative outperformance against the perceived riskier Australian Dollar (AUD). That said, expectations that the Reserve Bank of Australia (RBA) will stick to its hawkish stance hold back bearish traders from placing aggressive bets around the AUD/USD pair.
Traders now look forward to the release of the revived University of Michigan US Consumer Sentiment Index, which, along with Fedspeak, might influence the USD price dynamics. The focus will then shift to RBA Governor Michele Bullock’s speech on Sunday, which should provide a fresh impetus to the AUD/USD pair at the start of a new week. Nevertheless, spot prices remain on track to register heavy weekly losses, also marking the second straight week of a negative move.
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