Marketwatch APAC

Daily Insights
March 26, 2024

Market Watch APAC – 27th  March 2024

The AUDUSD traded off its daily highs as the US-dollar firmed up and gold and equities prices deteriorated. During Asia, the Aussie had been tracking the stronger CNH after the fixing came in stronger. Monthly and quarterly end flows have been favouring the US-dollar overnight, while markets await the US data for Feb PCE and weekly jobless claims. Locally today we get a look at the Australian Feb CPI yoy, which economists are expecting a growth to 3.5% from 3.4% published in January. This in turn would suggest that the RBA keeps rates higher for longer in the current cycle and see some influence to the Australian Dollar. The  AUDUSD will be looking to continue consolidating above support at 0.6500/10 if it is to retain its current neutral bias ,  while resistance around 0.6555/65 initially, will need to be hurdled, for it to gather any upward momentum.

Wall Street indices ended the day just in the red after earlier strength was unwound as investors sit sideline awaiting the next round of US economic data. The DJI was lower -0.05%, S&P500 lost -0.3% and the Nasdaq lower -0.4%. Australian shares are expected open slightly lower again today, as investors await the Australian CPI release for clues as to the Central Bank influence for interest rates this year.

Gold prices marked just minor gains, as investors look to up-coming US inflation figures as to an indication for when the US Fed will cut interest rates this year.

Copper prices retreated as investors remain cautious over signals of demand recovery in China. LME Copper was down just -0.1% by close. Dalian Iron ore prices gave back previous session gains as traders turned wary of the downstream steel consumption in leading consumer China. The Dalian May contract was -3.7% lower at daytime close.

Brent Crude prices ended the day just negative, after traders adopted a mixed view as to the impact of Russian refinery capacity following the recent Ukraine attacks.



Open today 0.6533

Yesterday’s Range 0.6530 / 0.6559


Open today  0.6004

Yesterday’s Range 0.5996 / 0.6031


Yesterday’s Range 1.0869 / 1.0902


Yesterday’s Range 0.6027 / 0.6043


Yesterday’s Range 4.7332 / 4.7521


Yesterday’s Range 0.5168 / 0.5183


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Economic Calendar

AUD - CPI y/y
EUR - Spanish Flash CPI y/y
CHF - Credit Suisse Economic Expectations
EUR - Italian 10-y Bond Auction
GBP - FPC Meeting Minutes
GBP - FPC Statement
CNY - CB Leading Index m/m
CHF - SNB Quarterly Bulletin
USD - Crude Oil Inventories
CHF - Gov Board Member Schlegel Speaks
USD - FOMC Member Waller Speaks
JPY - BOJ Summary of Opinions

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.65589 0.65302
nzd/usd 0.6031 0.59958
aud/nzd 1.09023 1.08574
usd/jpy 151.603 151.205
usd/cad 1.35906 1.35525
eur/usd 1.08643 1.08241
gbp/usd 1.26679 1.26189
aud/eur 1.65927 1.65439
aud/jpy 99.247 98.87
Equities and Commodities
S&P 500 5222.4
DOW 39405.1
Nasdaq 100 18278.3
ASX200 7775.65
GOLD 2177.6
WTI 81.31

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.