Marketwatch APAC

Daily Insights
June 10, 2024

Market Watch APAC – 11th June 2024


After a sell off on the AUDUSD on Friday night, following the surprise US Non-Farm Payrolls, a pick up in commodity prices has helped to underpin gains in the Aussie Dollar. The release of the NAB business conditions and confidence numbers will draw attention for local traders, but releases in the US for May CPI and the FOMC meeting will attract the major attention near-term. Option expiries at 0.6590 and 0.6600 for notable size will keep trading tight for our session today. For the AUDUSD today, trading will remain cautious, with support holding above 0.6550’s and rallies finding supply in to 0.6635/50 on any strength.

Wall Street stock indices were higher for the day although investors remain cautious ahead of this week’s CPI release and the FOMC policy announcement. The DJI was up +0.2%, while the S&P500 gained +0.3% and the Nasdaq rose +0.4% also. Australian shares are looking to ease today, as investors remain cautious ahead of the US inflation data later this week, though a firm commodities complex may offer some support to the mining and energy sectors.

Gold prices ended the day with modest gains as investors positioned ahead of the US inflation data and the results of the FOMC meeting later this week.

Copper prices on the LME rallied up 1.4% as trader focus shifted to demand potential. Dalian Commodity exchange was closed for Dragon Boat Festival Holiday.

Brent Crude prices were up 3% by close as focus shifted to hopes of rising demand over the northern hemisphere summer despite a stronger US-dollar.



Open today 0.6610

Yesterday’s Range 0.6577 / 0.6611


Open today  0.6128

Yesterday’s Range 0.6099 / 0.6128


Yesterday’s Range 1.0764 / 1.0802


Yesterday’s Range 0.6099 / 0.6150


Yesterday’s Range 4.7775 / 4.8036


Yesterday’s Range 0.5166 / 0.5193


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Economic Calendar

AUD - NAB Business Confidence
GBP - Claimant Count Change
GBP - Average Earnings Index 3m/y
GBP - Unemployment Rate
JPY - Prelim Machine Tool Orders y/y
CNY - New Loans
CNY - M2 Money Supply y/y
USD - NFIB Small Business Index
CAD - Building Permits m/m
GBP - CB Leading Index m/m
USD - 10-y Bond Auction
NZD - Visitor Arrivals m/m
JPY - PPI y/y

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.66109 0.65758
nzd/usd 0.61282 0.60992
aud/nzd 1.07972 1.07562
usd/jpy 157.19 156.348
usd/cad 1.37815 1.3744
eur/usd 1.07895 1.07326
gbp/usd 1.27371 1.26878
aud/eur 1.63874 1.62606
aud/jpy 103.829 102.827
Equities and Commodities
S&P 500 5362.98
DOW 38838.6
Nasdaq 100 19080
ASX200 7798.83
GOLD 2310.3
WTI 78.04

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.