Marketwatch APAC

Daily Insights
April 8, 2024

Market Watch APAC – 9th April 2024


The AUDUSD has managed to clear out the losses from Friday’s US Payrolls data and track stronger CNH and commodities higher. It opens in Asia over 0.66-cents and leans to a bullish tone despite US Treasury yields hitting fresh near term highs overnight. In our trading day we look to the NAB Business confidence and conditions report for March and the Westpac Consumer numbers for April to entertain traders today. Markets will be tuned to the US CPI tomorrow and FOMC March meeting minutes on Thursday, that may offer further direction to the US-dollar. For now on the AUDUSD, the levels to watch will be resistance at 0.6630/35 and support from buyers interest on dips to 0.6550/60 zone, yet again.

Wall Street stocks traded sideways and little changed by close as investors sit tight ahead of the inflation data tomorrow. The DJI was up +0.01%, S&P500 also marginally in the black at +0.01% and the Nasdaq up  by +0.03%. Australian shares are expected to open higher today, following commodities higher, as investors await the release of the US CPI later this week that may offer further insight as to how the US Fed sets policy.

Gold bullion prices continue to firm and hit new highs, as central bank interests and geopolitical tensions continue to fuel the favour of lustre metals.

Copper prices tracked higher with speculator interest from momentum funds being noted and on the back of strong German industrial data. The Dalian Commodity exchange saw Iron ore prices rally as it re-opened after last weeks holiday with hopes that China will bolster its steel industry and see steel mills restock inventories post the holiday break.

Brent Crude prices eased as Israel was seen to reduce troops in south Gaza and re-open ceasefire talks with Hamas.



Open today 0.6604

Yesterday’s Range 0.6560 / 0.6610


Open today  0.6032

Yesterday’s Range 0.5995 / 0.6038


Yesterday’s Range 1.0913 / 1.0968


Yesterday’s Range 0.6057 / 0.6093


Yesterday’s Range 4.7528 / 4.7868


Yesterday’s Range 0.5199 / 0.5226


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Economic Calendar

AUD - Westpac Consumer Sentiment
AUD - NAB Business Confidence
JPY - Consumer Confidence
JPY - Prelim Machine Tool Orders y/y
EUR - French Trade Balance
USD - NFIB Small Business Index
USD - RCM/TIPP Economic Optimism
CHF - Gov Board Member Schlegel Speaks
JPY - Bank Lending y/y
JPY - PPI y/y

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.661 0.65556
nzd/usd 0.60386 0.59887
aud/nzd 1.0951 1.08938
usd/jpy 151.941 151.474
usd/cad 1.36165 1.35563
eur/usd 1.08622 1.08207
gbp/usd 1.26637 1.2613
aud/eur 1.65055 1.63931
aud/jpy 100.32 99.38
Equities and Commodities
S&P 500 5215.16
DOW 38965.9
Nasdaq 100 18141.8
ASX200 7832.35
GOLD 2338.7
WTI 86.52

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.