The Australian Dollar looks poised to rise against the US Dollar as rumors of a Chinese policy shift on Covid circulate. China’s trade balance for October is in focus for APAC traders.

The risk-sensitive Australian Dollar fell nearly 1% against the US Dollar as recession bets rose overnight. Asia-Pacific traders may trade cautiously ahead of tomorrow’s US jobs report.

The Japanese Yen looks poised for additional strength against the US Dollar after intervention measures leave Japan’s foreign reserve deposits around $941 billion.

The S&P 500 rallied up a storm as the US Dollar sank after softer Richmond Fed Manufacturing data underscored the slowing inflation story. Ahead, all eyes are on the RBNZ rate decision.

The US Dollar soared on Monday as the Nasdaq 100 sank. A reemergence in harsh Chinese Covid lockdown threats leaves Asia-Pacific markets vulnerable on Tuesday.

Crude oil prices were crushed on Friday as the futures market entered contango. Wall Street risk aversion may set a sour tone for Asia-Pacific markets to start the week.

The Australian Dollar is testing a critical trendline breakout higher despite rising geopolitical tensions in Europe as Asia-Pacific markets are left on edge for Wednesday’s trading session.

Bitcoin rebounded strongly during US trading hours after a weaker-than-expected CPI report weighed on Fed rate hike bets. Asia-Pacific markets will attempt to capitalize on the move.