Marketwatch APAC

Daily Insights
April 17, 2024

Market Watch APAC – 18th April 2024


The US-dollar retreated for the first session in six as US Treasury yields eased. All the G10 currencies have recovered from their recent lows against the dollar, with the AUDUSD managing to regain ground near 0.6450’s with the rebound in base metal prices and gold. On the local calendar today we have the release of the Australian Employment data which is expected to show a slowdown in jobs over March after a stronger than expected number was seen in February. The AUDUSD moves have stagnated the fall, but look for intraday interests to sell into this strength for now. There are continuing geopolitical tensions that will favour the US-dollar and could drive it higher. The 0.6450’s level on the Aussie has been an important pivot in the last few months and will be closely monitored for direction in the coming sessions.

Wall Street stocks were mixed again with investors digesting the latest comments from the Fed and some worrying signs for softer earning reports as the season starts up. The DJI gained +0.03%, S&P500 down -0.3% and the Nasdaq slid -0.7%. Australian shares are expected to open steady today, after a couple of negative sessions, with base metals and gold recovering though lingering tensions in the Middle East have investors taking a more cautious view.

Gold prices trade near their record high as elevated tensions in the Middle East conflicts maintain safe haven interests for lustre metals.

Copper prices have been trading a little bit rudderless, lately but managed a gain of +1.2% on the LME as the US-dollar eased. The Dalian Commodity exchange saw Iron ore prices recovered previous session losses as the steel market improved in China and along with an improved outlook.

Brent Crude prices settled lower by 3% for the day after a rise in US commercial inventories and progress on Ukraine and Israel aid bills with the US.



Open today 0.6435

Yesterday’s Range 0.6400 / 0.6446


Open today  0.5917

Yesterday’s Range 0.5861 / 0.5925


Yesterday’s Range 1.0861 / 1.0921


Yesterday’s Range 0.6022 / 0.6047


Yesterday’s Range 4.6490 / 4.6700


Yesterday’s Range 0.5147 / 0.5172


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Economic Calendar

AUD - Employment Change
AUD - Unemployment Rate
AUD - NAB Quarterly Business Confidence
AUD - RBA Bulletin
JPY - Tertiary Industry Activity m/m
CHF - Trade Balance
CNY - Foreign Direct Investment ytd/y
EUR - Current Account
EUR - Spanish 10-y Bond Auction
EUR - German Buba Monthly Report
EUR - German Buba President Nagel Speaks
USD - Unemployment Claims
USD - Philly Fed Manufacturing Index
USD - FOMC Member Bowman Speaks
USD - FOMC Member Williams Speaks
USD - Existing Home Sales
USD - CB Leading Index m/m
All - IMF Meetings
USD - Natural Gas Storage
USD - FOMC Member Bostic Speaks
CHF - Gov Board Member Martin Speaks
JPY - National Core CPI y/y

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.64461 0.64025
nzd/usd 0.59251 0.58912
aud/nzd 1.0891 1.08608
usd/jpy 154.733 154.156
usd/cad 1.38377 1.37592
eur/usd 1.06796 1.0606
gbp/usd 1.2482 1.2417
aud/eur 1.66005 1.6536
aud/jpy 99.535 98.998
Equities and Commodities
S&P 500 5025.63
DOW 37757.1
Nasdaq 100 17518
ASX200 7639.73
GOLD 2372.83
WTI 82.75

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.