Marketwatch APAC

Daily Insights
May 26, 2024

Market Watch APAC – 27th May 2024


The Aussie dollar picked up some buying interest on the dip through 0.66-cents on Friday, as investors revise their expectations on interest rate differentials between the RBA and the Fed.  Analyst are starting to look ahead to this week’s Australian Retail Sales tomorrow and April CPI report, due Wednesday, mulling over the quarterly data and how it will likely tilt the RBA in its interest rate policy guidance. From their meeting minutes, any sign of a pick-up in household spending may reignite speculation of a rate hike. Also to watch will be comments from RBA Chief Economist Sarah Hunter on Friday, that will follows the release of this weeks data and possibly contextualize how the Central Bank will react to these latest releases. For the AUDUSD, any strength will find initial resistance at 0.6650’s for the time being and a break down of the 0.66-figure would rekindle further correction to 0.6550/60 zone. A public holiday in the US for Memorial Day, will likely mute trading activity today.

Wall Street ended the week on a firm note after news of an improving outlook on US inflation and positioning ahead of the long weekend. The DJI registered a +0.1% gain, the S&P500 gained +0.7% and the Nasdaq was up +1.1% for the day. Australian shares are expected to open on the front foot today as commodity prices register positive gains and support the local mining and energy sectors.

Gold prices marked gains for the day against the US-dollar as investors revise their outlook for interest rate moves later in the year.

Copper prices eased for another session, as investors reassess physical demand outlooks from leading consumer China. Iron Ore prices held on to recent gains as traders digest the impacts of the latest stimulus initiatives from China.

Brent Crude prices rose on Friday but registered an overall decline for the week, as traders ponder a downgrade in demand on the basis that interest rates will remain higher for longer in the US.



Open today 0.6639

Yesterday’s Range 0.6593 / 0.6636


Open today  0.6116

Yesterday’s Range 0.6088 / 0.6126


Yesterday’s Range 1.0819 / 1.0840


Yesterday’s Range 0.6096 / 0.6114


Yesterday’s Range 4.7853 / 4.8196


Yesterday’s Range 0.5195 / 0.5209


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Economic Calendar

JPY - BOJ Gov Ueda Speaks
GBP - Bank Holiday
EUR - German ifo Business Climate
USD - Bank Holiday
EUR - Belgian NBB Business Climate
GBP - BRC Shop Price Index y/y
JPY - SPPI y/y

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.66363 0.65919
nzd/usd 0.61264 0.60872
aud/nzd 1.08363 1.08184
usd/jpy 157.144 156.705
usd/cad 1.37384 1.36477
eur/usd 1.08578 1.08054
gbp/usd 1.27507 1.26691
aud/eur 1.64054 1.63449
aud/jpy 104.135 103.499
Equities and Commodities
S&P 500 5305.73
DOW 39048.6
Nasdaq 100 18808.1
ASX200 7768.61
GOLD 2333.37
WTI 77.85

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.