Marketwatch APAC

Daily Insights
April 14, 2024

Market Watch APAC – 15th April 2024


The AUDUSD has retreated as the US-dollar gains on safe haven flows amid heightened Middle East tensions after Iran launches an unprecedented attack on Israel with hundreds of suicide drones. The EUR, GBP and JPY have also slipped against the US-dollar, as trading gets under way in Asia today. Markets are expected to be on edge for fear of retaliation from Israel and escalate geopolitical risks in the region. Looking ahead this week for local releases, will have traders awaiting the Aust March Employment data, where a strong labour force has been an influencing factor in the RBA’s policy outlook. With AUDUSD technical’s bearish from the open, expect the pair to trade heavy through 0.6455/60 supports and see day traders selling in to any strength. US March Retail Sales, due out tonight, may be closely watched as a key indicator for traders short term.

Wall Street stocks sold heavily on Friday as geopolitical tensions rise in the Middle East and investors wary of persistent US inflation that could bring about a diverging policy outcome, between Europe and the US. The DJI lost -1.2%, S&P500 down -1.5% and the Nasdaq slid -1.6%. Australian shares are expected to open lower today as investors look to safer haven assets following heightened geopolitical tensions in the Middle East.

Gold prices kicked higher on safe haven flows, looking for protection from the growing tension in the Middle East.

Copper prices struck their highest since the middle of 2022 as investors saw rising expectations for demand growth. The Dalian Commodity exchange saw Iron ore prices gain further, spirited on by hopes that China will return to a better demand outlook.

Brent Crude prices hit a 6-month high on Friday and are expected to gain again today, following the Iranian attack on Israel over the weekend.



Open today 0.6475

Yesterday’s Range 0.6456 / 0.6543


Open today  0.5946

Yesterday’s Range 0.5934 / 0.6010


Yesterday’s Range 1.0877 / 1.0908


Yesterday’s Range 0.6066 / 0.6106


Yesterday’s Range 4.6924 / 4.7471


Yesterday’s Range 0.5187 / 0.5211


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Economic Calendar

CHF - PPI m/m
EUR - Industrial Production m/m
GBP - MPC Member Breeden Speaks
CAD - Housing Starts
CAD - Manufacturing Sales m/m
CAD - Wholesale Sales m/m
USD - Core Retail Sales m/m
USD - Empire State Manufacturing Index
USD - Retail Sales m/m
USD - FOMC Member Williams Speaks
USD - Business Inventories m/m
USD - NAHB Housing Market Index
All - IMF Meetings

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.65433 0.64558
nzd/usd 0.60101 0.59226
aud/nzd 1.09053 1.08574
usd/jpy 153.385 152.589
usd/cad 1.3787 1.36816
eur/usd 1.07281 1.06224
gbp/usd 1.25587 1.24264
aud/eur 1.64786 1.63768
aud/jpy 100.202 98.632
Equities and Commodities
S&P 500 5129.48
DOW 37993.5
Nasdaq 100 18028.7
ASX200 7743.11
GOLD 2343.16
WTI 85.46

This document is for information purposes only and does not constitute any recommendation or solicitation to any person to enter into any transaction or adopt any trading strategy, nor does it constitute any prediction of likely future movements in exchange rates or prices or any representation that any such future movements will not exceed those shown on any illustration. All exchange rates and figures appearing are for illustrative purposes only. You are advised to make your own independent judgment with respect to any matter contained herein.