Marketwatch APAC

Daily Insights
January 30, 2024

Market Watch AU – 31st January 2024

The US-dollar was mixed during the northern hemisphere session and gave back some gains against  the G10 currencies after upbeat reports for US Job vacancies and consumer confidence. Australian Retail Sales for December surprised markets yesterday and suggested that they suffered from a Black Friday sale hangover. Today we await the release of the Q4 CPI release that is expected to show a slight contraction from last, exp 4.3% from 5.4% previous. The inflation numbers should guide the RBA’s upcoming  monetary policy decisions and as such could sway the direction for AUDUSD. The pair looks to continue its familiar ranges trading around 0.66-cents. For day traders today, once again should find initial support at 0.6570/80 on any pullback, with rallies confined to resistance at 0.6630 initially.

Wall Street stocks traded in a mixed fashion for the day with a number of corporate earnings released along with solid US economic data as inventors position for the outcome of the Fed meeting this week. The DJI was ahead at +0.3% over the session, while the S&P500 was lower -0.1%, and the Nasdaq was lower -0.8% for the day.  Australian shares are set to open down today as investors follow the global bourses ahead of the US Fed meeting later this week and hints for possible policy changes in the months ahead, plus the release of the Australian CPI later this morning.

Gold prices traded positive on the back softer US Treasury yields and weaker US-dollar, as well as continuing tensions in the Middle East.

Copper prices extended small gains as traders monitor demand outlook for China, as it continues to propose support measures for its property sector and broader economy. LME prices were up +0.9% into the close. Dalian Iron ore futures reversed lower for the day, as traders remain confident that China policy will be continue to come and add sufficient to support its ailing economy, but weak demand weighed on gains.

Brent Crude prices regained some of its previous day’s losses as the prospect of escalating tensions out of the Middle East and higher global growth, offset concerns over Chinese demand.



Open today 0.6602

Yesterday’s Range 0.6575 / 0.6625


Open today  0.6136

Yesterday’s Range 0.6106 / 0.6149


Yesterday’s Range 1.0758 / 1.0788


Yesterday’s Range 0.6069 / 0.6115


Yesterday’s Range 4.7286 / 4.7579


Yesterday’s Range 0.5194 / 0.5201


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Economic Calendar

NZD - ANZ Business Confidence
AUD - CPI q/q
AUD - CPI y/y
AUD - Trimmed Mean CPI q/q
AUD - Private Sector Credit m/m
CNY - Manufacturing PMI
CNY - Non-Manufacturing PMI
JPY - Consumer Confidence
JPY - Housing Starts y/y
EUR - German Import Prices m/m
EUR - German Retail Sales m/m
GBP - Nationwide HPI m/m
EUR - German Prelim CPI m/m
CHF - Retail Sales y/y
EUR - French Prelim CPI m/m
EUR - German Unemployment Change
CHF - Credit Suisse Economic Expectations
EUR - Italian Monthly Unemployment Rate
EUR - German 10-y Bond Auction
USD - ADP Non-Farm Employment Change
CAD - GDP m/m
USD - Employment Cost Index q/q
USD - Chicago PMI
USD - Crude Oil Inventories
USD - Federal Funds Rate
USD - FOMC Statement
USD - FOMC Press Conference

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.66243 0.65749
nzd/usd 0.61028 22
aud/nzd 1.07874 1.07324
usd/jpy 147.928 147.092
usd/cad 1.34464 1.33849
eur/usd 1.08572 1.08119
gbp/usd 1.27211 1.26402
aud/eur 1.64769 1.63501
aud/jpy 97.585 97.044
Equities and Commodities
S&P 500 4911.85
DOW 38477.7
Nasdaq 100 17376.6
ASX200 7624.35
GOLD 2036.5
WTI 77.76

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.