US shares rebound <\/p>\n
Global markets rebounded after Friday\u2019s massive meltdown with an easing of US-China trade tensions boosting markets.<\/p>\n
Further moves towards a lasting ceasefire in the Middle East also supported markets.<\/p>\n
US shares jumped with the benchmark S&P 500 up 1.6% as US Treasury Secretary Scott Bessent said a key meeting between US president Donald Trump and Chinese Xi Jinping is still likely to go ahead.<\/p>\n
The Aussie led gains in FX markets with the AUD\/USD up 0.6% but still down significantly from last Friday. The Aussie was higher in most other markets.<\/p>\n
The NZD\/USD was flat, as were USD\/SGD and USD\/CNH.<\/p>\n
The safe havens gave back last week\u2019s gains with the USD\/JPY up 0.7% and USD\/CHF up 0.6%.<\/p>\n
RBA minutes due <\/p>\n
The Aussie remains in focus with the Reserve Bank of Australia minutes due at 11.30am AEDT.<\/p>\n
The RBA\u2019s 30 September meeting surprised markets by raising concerns about sticky inflation after the monthly inflation index jumped from 1.9% to 3.0% between June and August.<\/p>\n
As such, markets will be looking for more detail about the falling chances for a 4 November rate cut.<\/p>\n
After Friday\u2019s sharp falls, the AUD\/USD\u2019s short-term resistance is seen at 0.6520, a level that might cap gains in the near term.<\/p>\n
Above that, topside orders are to 0.6565 while support is seen at the 200-day moving average 0.6495.<\/p>\n
Euro underperforms <\/p>\n
In other markets, the euro underperformed with the EUR\/USD down 0.4% as it fell to two-month lows.<\/p>\n
The euro was weaker in other markets with the AUD\/EUR reclaiming most of last Friday\u2019s losses with an almost 1.0% gain overnight.<\/p>\n
Looking forward, European CPI numbers will be key.<\/p>\n
Aussie bounces back \u00a0 <\/p>\n
Table: seven-day rolling currency trends and trading ranges \u00a0<\/p>\n
Key global risk events <\/p>\n
Calendar: 13 \u2013 18 October \u00a0<\/p>\n
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