6/10/2021 Wednesday



  • USD ISM Service PMI: Exp. 59.9 vs. 61.9
  • EUR President Lagarde Speaks
  • USD FOMC Member Quarles Speaks
  • NZD Official Cash Rate: Exp. 0.50%
  • RBNZ Rate Statement
  • USD ADP Non-Farm Employment Change: Exp. 425K



AUDUSD Day’s Range: 0.72489 – 0.72998


AUDUSD session was quiet, as the market data did not have a significant impact in the market. The RBA kept the cash rate and the statement unchanged as uncertainty around the reopening the economy remains.


Stocks rebounded from Monday’s fall with the gains in S&P500 and NASDAQ 100 led by mega-cap technology companies and Treasury fell. Investors assess the economic state before the payroll report on Friday which should provide a signal on Federal Reserve’s next move. The US ISM Service PMI was better than expected, supporting the Fed’s move to reduce its bond-buying. Investors have been worried about the rising inflation, fading recovery indicators, spreading of the energy crisis, and U.S. pollical bickering. The rise in stocks helped to ease some concerns of a market correction. U.S. President Joe Biden’s Democrats planned a vote on Wednesday in the Senate to suspend the U.S. debt ceiling, setting up another confrontation with Republicans which may bring risks to a federal credit default.


ECB President Christine Lagarde said in her speech that ECB expects GDP to be back at its pre-pandemic level before the end of this year. Lagarde remain her previous opinion that the market frictions are transitory but it is hard to predict how long disruption will last. Companies should not overreact to supply shortages and rising energy prices and ECB will pay close attention to wage developments and inflation expectations to ensure that inflation expectations are at 2%.



AUDUSD Daily Chart:


Major moves in the market:


  • The S&P 500 rose 1.05%, closed at 4345.72
  • The Nasdaq 100 rose 0.11%, closed at 14671.50
  • The Dow Jones Industrial Average rose 0.92%, closed at 34314.67
  • The S&P/ASX 200 dropped 0.41%, closed at 7248.40



  • The Bloomberg Dollar Spot Index rose 0.2%
  • The euro fell 0.2% to $1.1599
  • The British pound rose 0.1% to $1.3625
  • The Japanese yen fell 0.5% to 111.46 per dollar



  • The yield on 10-year Treasuries advanced five basis points to 1.53%
  • Germany’s 10-year yield advanced three basis points to -0.19%
  • Britain’s 10-year yield advanced seven basis points to 1.08%



  • Brent crude oil was at USD/Bbl 79.12
  • Gold was at USD/OZ 1759.94
  • Iron ore was at USD/T 117.85

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