Marketwatch APAC

Daily Insights
April 21, 2024

Market Watch APAC – 22nd April 2024


The US-dollar opens mixed against its G10 peers this morning, with the AUDUSD over shadowed by deteriorating risk sentiment and geopolitical tensions in the Middle East rocking commodity markets. The price action sees some recovery back over the 0.64-cent level but will need commodity price gains and AUDJPY demand to extend the corrective rally. The 0.6450’s level on the Aussie has been an important pivot in the last few months and will again be closely monitored for direction. Day traders will prefer to sell in to the fade, as supply gains above that 0.6450 level.

Wall Street stocks were mixed for the day with S&P and the Nasdaq retreating while the Dow posted marginal gains. The DJI gained +0.6%, S&P500 down -0.9% and the Nasdaq slid -2%. Australian shares are expected to get a lift from rising commodity prices and improving signals for demand from China, though developments in the Middle East tensions will be closely monitored for signs of next moves.

Gold prices finished positive for the week, as safe haven interests for lustre metals remained elevated amid tensions in the Middle East.

Copper prices added to their gains for the week on the LME, as traders and funds extended their buying interests. The Dalian Commodity exchange Iron Ore futures subsided for the session but remained positive for the week overall following improved demand conditions from China.

Brent Crude prices settled slightly in the green for the session, up just 0.2%, as newswire commentary played down the developments in tensions in Middle East.



Open today 0.6414

Yesterday’s Range 0.6363 / 0.6433


Open today  0.5894

Yesterday’s Range 0.5853 / 0.5907


Yesterday’s Range 1.0856 / 1.0905


Yesterday’s Range 0.5995 / 0.6037


Yesterday’s Range 4.6183 / 4.6619


Yesterday’s Range 0.5133 / 0.5192


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Economic Calendar

CNY - 1-y Loan Prime Rate
CNY - 5-y Loan Prime Rate
NZD - Credit Card Spending y/y
GBP - CBI Industrial Order Expectations
CAD - IPPI m/m
CAD - NHPI m/m
CAD - RMPI m/m
EUR - Consumer Confidence
EUR - ECB President Lagarde Speaks
AUD - Flash Manufacturing PMI
AUD - Flash Services PMI

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.64327 0.63619
nzd/usd 0.59062 0.5852
aud/nzd 1.09052 1.0855
usd/jpy 153.584 21
usd/cad 1.38044 1.37231
eur/usd 1.06776 1.06103
gbp/usd 1.24682 1.23629
aud/eur 1.66822 1.65656
aud/jpy 99.404 97.771
Equities and Commodities
S&P 500 4968.49
DOW 37980.7
Nasdaq 100 17040.4
ASX200 7605.47
GOLD 2391.75
WTI 82.13

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.