Marketwatch APAC

Daily Insights
January 22, 2024

Market Watch AU – 23rd January 2024


The AUDUSD lost 1.3% last week and is searching for some consolidation, with support levels in the mid-0.65’s. With major central bank meetings looming during the week , they are set to dominate the direction for intraday moves. With no tier one releases in Australia today, market direction is likely to be dominated by China market activity. The BoJ announces their rate decision today with no change expected and no impact on the Australian Dollar. Support arises at 0.6500/25 on any further deterioration, with rallies likely to be capped through 0.6600/15 initially.

Wall Street indices pushed further higher on Monday boosted by megacap and chip stocks. The DJI posted a +0.3% gain, while the S&P500 gained +0.3%, and the Nasdaq was up +0.4% for the day.  Australian equities are set to ease from the open today, with miners weighed down by softer iron ore and copper prices nervous amid the expectations for demand from China.

Gold prices slipped back today with investors softening their expectations for a March interest rate cut from the Fed and rallying equity markets easing the demand for the safer haven of bullion.

Copper prices softened for the opening session of the week, as the market contemplated poor demand prospects from China. Iron ore futures steadied after its first weekly gain in three, with investors focusing on weakness in China’s steel-intensive property sector after the nation’s major lenders kept benchmark lending rates unchanged.

Brent Crude and US Oil futures settled higher for the day as traders saw oil supply tightening with conflict in the Middle East and Ukraine, along with extreme cold weather conditions in North America.



Open today 0.6670

Yesterday’s Range 0.6566 / 0.6614


Open today  0.6077

Yesterday’s Range 0.6072 / 0.6139


Yesterday’s Range 1.0768 / 1.0820


Yesterday’s Range 0.6035 / 0.6065


Yesterday’s Range 4.7251 / 4.7599


Yesterday’s Range 0.5168 / 0.5203


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Economic Calendar

AUD - NAB Business Confidence
JPY - Monetary Policy Statement
JPY - BOJ Policy Rate
JPY - BOJ Outlook Report
JPY - BOJ Core CPI y/y
JPY - BOJ Press Conference
GBP - Public Sector Net Borrowing
CAD - NHPI m/m
EUR - Consumer Confidence
USD - Richmond Manufacturing Index
NZD - CPI q/q
AUD - Flash Manufacturing PMI
AUD - Flash Services PMI
AUD - MI Leading Index m/m
JPY - Trade Balance

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.66136 0.65583
nzd/usd 0.61386 0.60619
aud/nzd 1.08187 1.07477
usd/jpy 148.303 147.616
usd/cad 1.34824 1.34145
eur/usd 1.09095 1.08785
gbp/usd 1.27327 1.26619
aud/eur 1.65706 1.6487
aud/jpy 97.879 96.971
Equities and Commodities
S&P 500 4854.34
DOW 38018.1
Nasdaq 100 17342.7
ASX200 7492.86
GOLD 2020.28
WTI 74.65

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.