Asia Roundup: Dollar advances to 2-month peak, Asia stocks gain, Gold dips, Oil falls -September 23rd, 2026

Market Roundup

•Australia Judo Bank Manufacturing PMI (Sep) 49.3, 52.0 previous

•Australia Manufacturing & Services PMI (Sep) 50.80, 52.70 previous

•Australia Judo Bank Services PMI (Sep) 51.4, 53.2 previous

•France HCOB Manufacturing PMI (Sep) 50.3, 50.9 forecast, 51.1 previous

•France HCOB Services PMI (Sep) 51.4, 48.3 forecast, 48.0 previous

•France HCOB Composite PMI (Sep) 51.2, 48.5 previous

•Germany HCOB Manufacturing PMI (Sep) 53.8, 54.1 forecast, 54.3 previous

•Germany HCOB Services PMI (Sep) 52.9, 49.9 forecast, 49.7 previous

•Germany HCOB Composite PMI (Sep) 53.8, 51.8 forecast, 51.8 previous

Currency Forecast

EUR/USD : The euro dipped on Wednesday as investors weighed expectations that major central banks could keep interest rates elevated for longer to combat persistent inflation. Boston Federal Reserve President Susan Collins said in a LinkedIn post that she supported last week’s rate hike, citing risks that inflation could remain above the Fed’s 2% target.The Fed last week raised its benchmark rate by 25 basis points to 3.75%-4.00% and signalled that another increase could come before year-end. The euro was at $1.1446 in early trading, hovering near its weakest level since late July. Immediate resistance can be seen at 1.1450(Daily high), an upside break can trigger rise towards 1.1479(50%fib).On the downside, immediate support is seen at 1.1410(38.2%fib), a break below could take the pair towards 1.1386(Lower BB).

GBP/USD: The British pound dipped on Wednesday as the dollar strengthened on expectations of further interest rate hikes, while easing oil prices on hopes of a diplomatic breakthrough to end the Middle East war kept investors cautious.A recent wave of rate hikes and hawkish signals from major central banks has taken centre stage in currency markets, as the U.S.-Israeli conflict with Iran pushes oil prices higher and fuels inflation concerns.Investors are increasingly anticipating further monetary tightening, with Federal Reserve officials signalling that additional rate hikes could be warranted if inflation remains elevated.Immediate resistance can be seen at 1.3347(Daily high), an upside break can trigger rise towards 1.3397(50%fib).On the downside, immediate support is seen at 1.3302(38.2%fib), a break below could take the pair towards1.3284(23.6%fib).

AUD/USD: The Australian   dipped on Wednesday as dollar firmed   on prospects of interest rate hikes in the near term  .The Fed last week lifted its benchmark rate by 25 basis points ​to 3.75%-4.00% and signalled another increase could come before year-end Richmond Fed President Tom Barkin and Boston Fed President Susan Collins on Tuesday both voiced support for last week's rise in interest ​rates given concerns about inflation.Futures markets imply a 54% chance the Fed will hike again in October and have ​33 basis points of ⁠tightening priced in by year end. Immediate resistance can be seen at 0.7134(Sep 18th high), an upside break can trigger rise towards 0.7164(38.2%fib).On the downside, immediate support is seen at 0.7080 (38.2%fib), a break below could take the pair towards 07072(Lower BB)

USD /JPY : The U.S. dollar firmed  against yen on Wednesday as  hawkish comments from the Federal Reserve reinforced expectations for further interest-rate hikes, supporting the dollar against the yen.Investors are now anticipating further tightening from central banks, with Federal Reserve officials flagging the possibility of more hikes if inflation does not ease.Attention remains on Tokyo’s willingness to intervene if yen weakness intensifies, with Japan’s market holiday on Wednesday potentially resulting in thinner liquidity and amplifying currency moves.Japan’s markets are shut for a holiday, while analysts see the thin trading conditions as an opportune window for authorities to step in if needed .Immediate resistance can be seen at 158.08(Sep 18th high), an upside break can trigger rise towards 158.58(50%fib).On the downside, immediate support is seen at  156.85(SMA20) a break below could take the pair towards 156.20 (61.8%fib).

Equities Recap

Asian shares were on track for a sixth straight session of gains on Wednesday, as strong demand for AI applications continued to lift technology stocks, while oil prices extended declines amid reports of increased Middle East supply.

China A50 was down by 0.71% ,   South Korea’s KOSPI was up at  0.90%, Nikkei was up  at 1.38%

Commodities Recap

Gold prices fell on Wednesday as investors weighed expectations that major central banks could keep interest rates elevated for longer to combat persistent inflation.

Spot gold fell 0.6% to $4,329.31 per ounce, as of 0623 GMT. US gold futures for December delivery were down 0.2% at $4,366.90.

Oil prices extended their decline on Wednesday as investors focused on improving Gulf supply after Saudi Arabia restarted operations at a key oil facility.

Brent crude futures fell 78 cents, or 0.79%, to $98.47 a barrel as of 0651 GMT while West Texas Intermediate futures fell $1.21, or 1.34%, to $89.31 per barrel.