Marketwatch APAC

Daily Insights
April 10, 2024

Market Watch APAC – 11th April 2024


The AUDUSD has retreated heavily on the release of the US CPI that showed inflation rose more than expected in March , 0.4% versus 0.3% expected and 3.5% against a forecast 3.4% y-o-y. This has quickly pushed out the expectations for the timing of the first rate cut for the US Fed , from June to September meeting. Also the Minutes of the Fed March meeting showed that some committee members were concerned that the progress of inflation decline had slowed and as such the FOMC would need to keep rates higher for longer. Risk assets have bourne the brunt of the shift in views and as a risk barometer currency, the AUDUSD has traded 1.7% down late in the offshore session dipping below 0.65-cents. With that the AUDUSD now looks to support at 0.6480 if it is going to recoup some of the intraday losses and regain positive momentum near-term.

Wall Street stocks traded lower after US CPI numbers for March came in hotter than expected and cooled expectations for a rate cut from the Fed any time soon. The DJI fell -1.2%, S&P500 also lower -1% and the Nasdaq down by -0.9%. Australian shares are expected to follow Wall Street lower today, as investors re-assess the prospects for interest rate cuts from the US Fed any time soon.

Gold prices retreated from recent highs, as the US-dollar and US Treasury yields gained after the better than expected inflation print pushed back rate cut expectation to later in the year.

Copper prices headed lower in response to a stronger US-dollar. The Dalian Commodity exchange saw Iron ore prices gain again yesterday with hopes that China will add stimulus to its construction industry though some investor caution capped overall gains.

Brent Crude prices gained after an Israeli airstrike threatened to stall cease fire negotiations.



Open today 0.6512

Yesterday’s Range 0.6499 / 0.6631


Open today  0.6032

Yesterday’s Range 0.5966 / 0.6083


Yesterday’s Range 1.0871 / 1.0951


Yesterday’s Range 0.6054 / 0.6108


Yesterday’s Range 4.7187 / 4.8009


Yesterday’s Range 0.5184 / 0.5231


We hope you have found our expertly curated MarketWatch analysis useful in navigating the ever-changing FX landscape. To enhance our services and make sure you receive the most relevant and timely insights we have recently made some exciting updates to our newsletter.

To continue receiving our curated MarketWatch insights, we kindly request you resubscribe to our mailing list here:

Economic Calendar

AUD - MI Inflation Expectations
CNY - CPI y/y
CNY - PPI y/y
EUR - Italian Industrial Production m/m
CNY - New Loans
CNY - M2 Money Supply y/y
GBP - BOE Credit Conditions Survey
EUR - Eurogroup Meetings
EUR - Main Refinancing Rate
EUR - Monetary Policy Statement
USD - Core PPI m/m
USD - PPI m/m
USD - Unemployment Claims
EUR - ECB Press Conference
USD - FOMC Member Williams Speaks
USD - FOMC Member Barkin Speaks
USD - Natural Gas Storage
USD - 30-y Bond Auction
USD - FOMC Member Bostic Speaks
GBP - MPC Member Greene Speaks
NZD - BusinessNZ Manufacturing Index
NZD - FPI m/m

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.65077 0.65017
nzd/usd 0.59749 0.59711
aud/nzd 1.08915 1.08868
usd/jpy 153.004 152.889
usd/cad 1.36935 1.36886
eur/usd 1.07415 1.07382
gbp/usd 1.25366 1.25319
aud/eur 1.65173 1.65046
aud/jpy 99.537 99.408
Equities and Commodities
S&P 500 5157.72
DOW 38435
Nasdaq 100 18008.3
ASX200 7797.39
GOLD 2332.52
WTI 86.27

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.