Marketwatch APAC

Daily Insights
April 16, 2024

Market Watch APAC – 17th April 2024


The US-dollar maintained its gains overnight following Fed Chairman Powell’s comments that the committee will wait longer than previously expected to invoke a cut in interest rates. Added to this has been escalating tensions in the Middle East that have doubled down on risk currencies and assets since the weekend. The USDJPY has pushed higher and the risk currencies have been pressured lower, the AUDUSD breaching the 0.64-cent support in trading overnight. Stronger than expected economic releases for China yesterday, particularly, their Q1 GDP, up 1.6% v 1.2% previously, have offered some support to the Aussie Dollar.  With AUDUSD technical’s bearish and RSI’s falling, next intra-day support comes at 0.6380/90’s, while any positive moves for the pair, will find day traders and fundies selling in to that strength.

Wall Street stocks traded a mixed session with US Treasury yields gaining and investors heading the tensions brewing in the Middle East. The DJI gained +0.2%, S&P500 down -0.2% and the Nasdaq slid -0.1%. Australian shares are expected to open lower again today, following commodities lower and the comments from Fed Chair Powell that rates will likely remain higher for longer.

Gold prices ground their way higher with elevated tension in the Middle East conflicts maintaining safe haven interest for lustre metals.

Copper prices gave back previous session gains as China factory data weakened the expectation for demand. The Dalian Commodity exchange saw Iron ore prices fall across the day, as hopes of further China stimulus and a better demand outlook has not been forthcoming and having investors reconsider.

Brent Crude prices finished the day near flat, down just 8 cents/bbl , as investor positioning from the Middle East tensions over the weekend were revised lower.



Open today 0.6402

Yesterday’s Range 0.6390 / 0.6447


Open today  0.5881

Yesterday’s Range 0.5869 / 0.5907


Yesterday’s Range 1.0883 / 1.0914


Yesterday’s Range 0.6018 / 0.6067


Yesterday’s Range 4.6444 / 4.6789


Yesterday’s Range 0.5139 / 0.5181


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 Leading Index m/m
GBP - CPI y/y
GBP - Core CPI y/y
GBP - PPI Input m/m
GBP - PPI Output m/m
GBP - RPI y/y
CNY - Foreign Direct Investment ytd/y
GBP - HPI y/y
EUR - Final Core CPI y/y
EUR - Final CPI y/y
EUR - German 30-y Bond Auction
GBP - BOE Quarterly Bulletin
GBP - MPC Member Greene Speaks
CAD - Foreign Securities Purchases
All - IMF Meetings
USD - Crude Oil Inventories
GBP - BOE Gov Bailey Speaks
GBP - MPC Member Haskel Speaks
USD - Beige Book
EUR - ECB President Lagarde Speaks
USD - TIC Long-Term Purchases
USD - FOMC Member Mester Speaks
USD - FOMC Member Bowman Speaks

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.64434 0.63893
nzd/usd 0.59073 0.58681
aud/nzd 1.09173 1.0882
usd/jpy 154.785 153.896
usd/cad 1.38458 1.3774
eur/usd 1.06537 1.06008
gbp/usd 1.24718 1.24053
aud/eur 1.66185 1.64891
aud/jpy 99.369 98.635
Equities and Commodities
S&P 500 5055.68
DOW 37836
Nasdaq 100 17734.2
ASX200 7585.74
GOLD 2388.51
WTI 85.27

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.