• AUD/USD -0.3% Thur as AU jobs data disappointment cools RBA hike bets

• Sep unemployment printed 4.7% (poll 4.6%), while Aug was revised up to 4.7%

• Futures pricing implies 87.6% chance RBA stands pat on OCR at Nov meeting

• FOMC FFR hike bets firm in wake of Wed's warmer U.S. CPI release

• AI trade wobbles as the threat of higher borrowing costs hits home

• U.S. considers easing sanctions on Iranian vessels, WTI -1.5% in Asia

• AUD targets 0.6865 support zone, break below would accelerate downswing

• Range Asia 0.69444-795 support 0.6865 0.6834, resistance 0.7006 0.7282
AUD Daily 21/100/200-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

• Australian mining stocks slide as much as 3.6%, logging their lowest level since July 21

• Sub-index sees biggest intraday pct fall since September 11

• AXMM on course for third consecutive session of declines, if current trend holds

• Miners fall on the back of falling copper and iron ore prices [MET/L] [IRONORE/]

• Mining giants BHP Group and Rio Tinto down 3.8% and 4.2%, respectively

• Sub-index up 5.9% YTD

(Reporting by Rudrannsh Mehra in Bengaluru)

• AUD/USD -0.2% Thur as AU employment data misses expectations

• AU Sep jobs update: -39.3k jobs (poll +20k), 4.7% unemployment (poll 4.6%)

• Fed policy rate hike bets firmer in wake of Wed's warm U.S. CPI release

• Threat of higher borrowing costs puts AI related stocks under pressure

• U.S. considers easing sanctions on Iranian vessels, WTI -0.4% in Asia

• AUD targets 0.6865 support zone, break below would reaccelerate downswing

• Range Asia 0.69444-795 support 0.6865 0.6834, resistance 0.7006 0.7282
AUD Daily 21/55/100-DMA


AUD Hourly Bollinger Study

(James Connell is a Reuters market analyst. The views expressed are his own.)

• USD/JPY less affected than other pairs after hot US CPI data

• US Sept CPI MM +0.6%, YY +3.7%, core MM +0.3%, YY +2.6%

• Expectations for +0.6%, +3.6%, +0.2% and +2.5%, respectively

• Some players not see FOMC October meeting "live" despite split views

• That said, other players see no urgency on part of Fed to hike

• USD/JPY 158.33 to 157.78 EBS in Asia, off from 158.95 high in New York

• Reports Japanese exporters good sellers on move to high yesterday

• Specs may have jumped too on the back of Japanese exporter flows

• Tokyo players in particular wary of FX intervention towards 160.00

• Exporters have been stepping ahead recently, especially from @159.00

• Spot back below 200-DMA at 158.57, into 156.64-158.44 daily Ichimoku cloud

• JGB-US Treasury rate differentials not much changed, in stasis still

• In 2s around 284 and in 10s around 219 bps as of the New York close

• Some large option expiries in area today to help contain spot action

• 157.00 $833 mln, 157.15-20 $843 mln, 157.50-60 $1.3 bln, 158.00 $1.3 bln

• Also between 158.20-45 $579 mln, 158.50-60 $1.3 bln, 159.00-25 $475 mln

• Related comments , , ,

• And , , also , on US CPI

• US markets , , ,

• On Fed/Fed-speak , , ,

• Also , for more click on [FXBUZ]

USD/JPY daily:


JGB-US Treasury 2-year interest rate differential:


USD/JPY nearby option expiries into next week:

(Haruya Ida is a Reuters market analyst. The views expressed are his own)

• NZD/USD -0.7% from Wed 0.56305 high in aftermath of warm U.S. CPI release

• Stop-loss selling below key 0.5581 support saw NZD dip to 0.5566 overnight

• U.S. Sep CPI +0.6% m/m, +3.7% y/y (poll +0.6% & +3.6% respectively)

• Fed's Goolsbee worried about inflation report; DXY hits 102.94 18-month high

• Iran plots to keep oil prices high; Brent crude +0.4% to $106.11 a barrel

• RBNZ's Williams talking on monetary policy Thur, while Breman speaks Fri

• Futures pricing currently implies 74% chance of RBNZ hike on Oct 28

• Range NZ 0.5587-935, support 0.5485, resistance 0.5650 0.5995 0.6012
DXY Daily 55/100/200-DMA


NZD Daily 21/55/100-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

• AUD/USD -0.6% from Wed 0.70145 high after U.S. inflation tops expectations

• AU Sep employment due Thur, poll consensus: +20.0k jobs, 4.6% unemployment

• U.S. Sep CPI +0.6% m/m, +3.7% y/y (poll +0.6% & +3.6% respectively)

• Fed President Goolsbee said inflation report was 'discouraging'

• Futures pricing now implies 92% chance Fed hikes at least 25 bps by Dec 9

• Iran flags intent to target oil tankers, WTI +1.0% to $95.04 a barrel

• AUD targets 0.6865 support zone, break below will accelerate rout

• Overnight range 0.6951-0.70145 support 0.6865 0.6834, resistance 0.7282
US Annual CPI


AUD Daily 21/55/100-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

• GBP$ holds bulk of Wed dive in NY afternoon, -0.67% at 1.3170; NorAm range 1.3272-1.3137

• Pair put in fresh 2026 low at 1.3137 after US core CPI posted upside surprises

• Persistent US inflation stoked more-hawkish Fed policy expectations, Oct hike odds rose

• Supt near prior 2026 high by 1.3140 holds; Thursday UK GDP, output & US PPI in focus

• LSEG's IRPR sees Fed Oct hike odds at 37%, 31bp priced by Dec; BoE Nov hike 92% priced in

• GBP$ supt 1.3137 Wed low, 1.3100 psychological lvl, 1.3081 lower 30-d Bolli

• Res 1.3200 psychological lvl, 1.3224 falling 10-DMA, 1.3275 Wednesday high

Chart:

(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)

• Cryptocurrency and blockchain-related stocks dip on Wednesday after bitcoin drifts to its lowest level in about a week

• Bitcoin down 2.1% at $81,635.42; Ether down 3.2% at $2,429.58

• Crypto exchange Coinbase Global falls 4.5%; BTC hoarder Strategy drops 5.1%

• Retail trading platform Robinhood Markets slips 7.1%, while Webull declines 4.1%

• Crypto miners weaken: Riot Platforms Inc 5.5%, Mara Holdings 7%, Bit Digital 8.2%, Hut 8

10.9%

• BTC mining machine maker Canaan drops 7.8%, stablecoin issuer Circle Internet falls 6.1%

• ProShares Bitcoin Strategy ETF and iShares Bitcoin Trust ETF both down a little lesser than 2%

• Shares of American Bitcoin , backed by the two eldest sons of US President Donald Trump, eases 8.9%

• Ether-linked stocks Bitmine Immersion Technologies

and Sharplink Gaming slip 4.8% and 7.7%, respectively

• Including the session's moves, BTC down 6.8% YTD, ETH down 18.4% YTD

(Reporting by Darshan Kumar in Bengaluru)

• Shares of silver miners down, tracking prices of bullion [GOL/]

• Spot silver falls 4.1% to $59.96/ounce

• Prices extend losses for a third straight session, as a stronger than expected inflation reading increased US Federal Reserve rate hike bets for this month

• Hecla Mining and Coeur Mining fall 2.7% and 3%, respectively

• Canadian miners: Endeavour Silver dips 2.3% and Silvercorp Metals slumps 2.1%

• Physical Silver Shares ETF and iShares Silver Trust each plunge 3.6%

(Reporting by Dharna Bafna in Bengaluru)

• 0.6982-0.7014 traded overnight, NY opened near 0.7005, up +0.32%

• Australian yield rise, US yield drop buoyed

• Gains in AUD/JPY an copper also contributed to lifting AUD/USD

• The 21-DMA was pierced before AUD/USD pulled back from its high

• Technical signals now have AUD/USD bears becoming worried

• Daily, monthly RSIs indicate upward momentum, monthly bull hammer in place

• Pair's break of psychological 0.7000 level adds to the bullish sentiment

• US Sept. CPI in focus, a below estimate result could drive AUD/USD higher
audusd

(Christopher Romano is a Reuters market analyst. The views expressed are his own)

• European natgas (dutch hub) hit 2026 high at EUR 87.47 on Tuesday

• Gas prices are strongly correlated with EUR/USD

• Higher gas weighs EUR/USD as eurozone imports, US exports

• Price of gas has more than doubled since July

• EUR/USD sinking 1.1711 to 1.1153 between Aug and Oct

•
gas and eurusd

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)

Oct 14 (Reuters) - - When the Bank of England's most hawkish "internal" Monetary Policy Committee (MPC) member conveys dovish guidance on interest rates, traders should take note.

BoE chief economist Huw Pill said on Wednesday he's sceptical about market pricing four quarter-point rate hikes, to 4.75%, by Britain's central bank over the next year.

Pill wanted the BoE to raise rates to 4% in September, as did hawkish "external" MPC members Megan Greene and Catherine Mann.

The BoE looks set to increase its policy rate by 25 basis points from 3.75% on November 5, by a 7-2 vote. Subsequent quarter-point hikes are then fully priced by February, April and September 2027.

GBP/USD scaled a one-week peak of 1.3275 in Asia on Wednesday, after a dovish steer from New York Federal Reserve President John Williams weighed on the dollar. The pound rose to a 16-month high against the euro on Tuesday, at 1.1842.

Related:
GBPEUR

(Robert Howard is a Reuters market analyst. The views expressed are his own)

• USD/JPY steady as traders turn their focus to US CPI and Fed speakers

• The pair has seen a steady 158.12-158.51 range, on Wednesday, according to EBS data

• The thick daily cloud, that currently spans the 156.64-158.44 region, limits the downside

• Overall bias remains on the upside as USD/JPY usually climbs in October

• Note also that the daily tenken and kijun lines are bullishly aligned

• USD/JPY and EUR/JPY tend to move in tandem, 30 and 60-day log correlations are high above +0.5

Correlation Chart


Correlation Chart

(Martin Miller is a Reuters market analyst. The views expressed are his own)

• AUD/USD rises to 0.7006, its highest level since Sept 29

• USD weighed down by dovish guidance from Fed's Williams

• Williams sees no need for Fed rate hike in 2027, Bloomberg News reports

• US Sept CPI data due at 1230 GMT; core CPI f/c at 0.2% MM, 2.5% YY

• Cooler CPI data could weigh on USD, while hotter prints might lift it

• Australian jobs data due at 0030 GMT; +20k f/c. Jobless rate f/c 4.6%

AUDUSD

(Robert Howard is a Reuters market analyst. The views expressed are his own)

• Cable rose to 1.3275 in Asia as dovish steer from Williams weighed on dollar

• Fed's Williams sees no need for rate hike in 2027, Bloomberg News reports

• 1.3275 is one-week high. US CPI data due at 1230 GMT; core f/c 0.2% MM, 2.5% YY

• MPC hawk Pill says he's sceptical about market pricing four BoE rate hikes

• Healey set to pay for UK budget measures without more borrowing, FT reports

• IMF says Britain does not need to speed up fiscal consolidation

GBPUSD

(Robert Howard is a Reuters market analyst. The views expressed are his own)

• USD/JPY in stasis on 158, Asia range so far 158.22-51 EBS

• Market awaiting news on US CPI tonight, more Fed-speak, FOMC split?

• Early Japanese importer, spec buys to high but off since

• Capped at top of hourly Ichimoku cloud then at 158.25-52, 158.25-44 now

• Break below cloud sees next support at 158.17 hourly kijun, 158.14 200-HMA

• USD/JPY below 158.56 200-DMA too, near top of 156.44-158.64 daily Ichi cloud

• Downside limited to daily Ichimoku tenkan in cloud at 157.85?

• $1.8 bln 157.00-25 option expiries today base for now? 158.50 $670 mln too

• Another $1.1 bln in expiries today up at 159.00 strike

• EUR/JPY 177.31-57 EBS, tad better bid after 176.49-177.34 range yesterday

• Still in lower range between 176.25 low October 5, 178.33 high October 6

• Spot move above descending 200-HMA at 177.47 bullish? Jury seen still out

• CHF/JPY 189.92-190.38, in 189.17-190.82 range since October 8

• Gravitational pull from whopping CHF1 bln option expiries today at 190.00?

• GBP/JPY buoyant, 209.66-210.20, holding below 210.88/211.26 highs Sept 22/18

• Tomorrow sees GBP964 mln in option expiries at 211.00 strike

• AUD/JPY also buoyant, best since 110.89 September 28, offers noted near top

• NZD/JPY 88.67-89.11, best since 89.31 September 29, offers too near top

• Related comment , also ,
USD/JPY hourly:


EUR/JPY hourly:


AUD/JPY hourly:

(Haruya Ida is a Reuters market analyst. The views expressed are his own)

• Shares of Australia's Valiant Gold rise as much as 4% to A$0.26, their biggest intraday pct gain since Oct 6

• Copper explorer updates on its flagship Comet Gold Mine in Western Australia’s Murchison region

• Says first production targeted for H227

• YTD, stock down below 13%

(Reporting by Aamir Sheik Khalid in Bengaluru)

• AUD/USD +0.1% Wed ahead of U.S. Sep CPI (Reuters poll: +0.6% m/m, +3.6% y/y)

• Futures pricing currently imply just 23.8% chance of Oct 28 Fed rate hike

• AU Sep employment due Thur, poll consensus: +20.0k jobs, 4.6% unemployment

• Brent crude +0.8% to $106.57 a barrel as Saudi-Houthi hostilities escalate

• AUD floating toward 0.7012 21-DMA, but downtrend may resume at short notice

• Range Asia 0.6982-90 support 0.6865 0.6834, resistance 0.7052 0.7282
DXY Daily 55/100/200-DMA


AUD Daily 21/55/100-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

• Shares of Australia's Odyssey Gold fall as much as 21.4% to A$0.022, their lowest level since July 18, 2025

• Stock on track for its biggest intraday pct fall since March 19

• Gold explorer says its toll milling agreement with Gylden Resources has been terminated

• Adds, it remains in discussions with Gylden on a replacement toll milling agreement

• YTD, stock down nearly 40%, including the session's moves

(Reporting by Paridhi Minda in Bengaluru)

• USD/JPY holding on 158 handle in run up to US CPI data tonight

• Expectations for MM +0.6%, YY +3.6%, core MM +0.2%, YY +2.5%

• USD/JPY 158.31-36 EBS in Asia so far, holding below 158.56 200-DMA

• Near top of 156.64-158.44 daily Ichimoku cloud, tenkan 157.85 below

• Low yesterday 157.83, also a support alongside daily tenkan

• Hourly chart shows spot ensconced in 158.23-54 Ichimoku cloud

• 100-HMA in cloud at 158.26, 200-HMA below at 158.13

• Option expiries today include 157.00 $1.3 bln, 157.15-25 $536 mln

• 158.00 $318 mln, 158.50 $670 mln, 159.00 $1.1 bln, 159.50 $521 mln

• JGB-US Treasury rate differentials narrow some, in 2s @284, 10s @217 bps

• Fed policymakers look split on policy, focus on Chair Warsh later in week

• Related comments , , , also

• US markets , , ,

• On Fed-speak , , ,

• On US banks , for more click on [FXBUZ]

USD/JPY daily:


USD/JPY hourly:


JGB-US Treasury 2-year interest rate differential:

(Haruya Ida is a Reuters market analyst. The views expressed are his own)

• NZD/USD +0.6% from Tue 0.55805 low as DXY slips from 18-month highs

• NZD wards off yet another attempt on critical 0.5580 support zone

• Saudi Aramco headquarters hit by Houthi missile as hostilities escalate

• WTI +0.6% to $94.66 a barrel as Trump's efforts to temper oil prices falter

• Critical U.S. Sep CPI due Wed, Reuters poll consensus +0.6% m/m, +3.6% y/y

• Futures pricing currently implies 62.3% chance of RBNZ hike on Oct 28

• Range NZ 0.5612-151, support 0.5581 0.5485, resistance 0.5995 0.6012
NZD Daily 21/55/100-DMA


DXY Daily 55/100/200-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

Credit Agricole CIB Research adopts a cautious bias on the USD in the near-term.

"FX investors could start focusing on other USD fundamentals more closely and may thus discover that its relative rate advantage over the rest of G10 is no longer growing and that, as a result, the USD is starting to look somewhat overvalued. Market participants would further start scrutinising the quality of the incoming US data as it would inform the Fed policy outlook," CACIB notes.

"This week, focus will also be on the US inflation and retail sales data for September as well as speeches by Fed Chair Kevin Warsh and his colleagues. At the time of writing, the US rate markets are pricing in c.76bp of additional Fed tightening in the next twelve months. This is an excessively hawkish outlook in our view. With many Fed-related positives already in the price of the USD, it would take upside data surprises and hawkish Fedspeak to boost the currency," CACIB adds

• AUD/USD +0.5% from Tue 0.69496 low as USD index retreats from 18-month highs

• Pivotal U.S. Sep CPI due Wed, Reuters poll consensus +0.6% m/m, +3.6% y/y

• AU Sep employment due Thur, poll consensus: +20.0k jobs, 4.6% unemployment

• WTI +1.3% to $94.92 a barrel as Saudi-Houthi hostilities escalate

• AUD targets .6865, break would substantially lift downside potential

• Overnight range 0.69625-865 support 0.6865 0.6834, resistance 0.7052 0.7282
AUD Hourly Bollinger Study & DXY Daily 55/100/200-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)

The dollar retreated on Tuesday from the previous session's 18-month highs as long end US Treasury yields extended their decline from recent peaks and market participants prepared for a highly anticipated US CPI report.

Comments from New York Fed President John Williams kept the pressure on yields and, thus, the US currency late in the Americas session by saying he still sees one more interest-rate hike as appropriate this year, but at the moment does not believe it will be necessary for the central bank to increase rates again in 2027, Bloomberg News reported. Williams told Bloomberg News in an interview there are still signs inflation will slow “quite a bit” and approach the Fed’s 2% target next year.

Economists polled by Reuters expect September core monthly CPI growth to come in at 0.2% and the annual rate of underlying consumer price inflation at 2.5% when data are released on Wednesday.

The question for markets -- and the dollar -- is how much further the market needs to go in discounting price growth above the Fed's target.

Dan Ivascyn, chief investment officer at the world's largest bond manager, PIMCO, told Reuters that US Treasury yields may have further room to rise, with the Fed likely to deliver one or two more rate increases before the current tightening cycle ends.

Chicago Fed President Austan Goolsbee said inflation is starting to feel like "aggregate overheating" fueled by spillovers from the artificial intelligence investment boom rather than largely being a byproduct of supply shocks that will pass on its own.

Federal Governor Christopher Waller said the recent rise in US bond yields has been due to stronger economic growth and large-scale investment in artificial intelligence rather than to higher inflation expectations, which remain "well anchored."

Bank of America's latest Global Fund Manager survey found that the US 10-year Treasury yield would need to climb to nearly 6% before bonds become compelling enough for investors to draw money away from stocks, highlighting the resilience of equity markets even as borrowing costs jump.

US Treasury yields were slightly higher at the front end but about 1 to 3 bps lower in five- to 30-year maturities. The 10-year yield was at 5.22% and the 2s-10s curve flatter by about 3 bps at 42 bps at the mid, according to data supplied by LSEG.

The S&P 500 was trading 0.07% lower in the New York afternoon as chip stocks came under selling pressure while investors parsed a mixed bag of quarterly results, including those from big US banks.

WTI crude oil rose 0.6% while copper slid 0.26%.

Gold fell 0.21%.

Heading toward the close: EUR/USD +0.4%, USD/JPY -0.18%, GBP/USD +0.34%, AUD/USD +0.32%, DXY -0.38%, EUR/JPY +0.21%, GBP/JPY +0.16%, AUD/JPY +0.16%.(Robert Fullem)