Marketwatch APAC

Daily Insights
August 24, 2023

The Australian dollar gave up all the gains it was able to make yesterday and then some, falling on hawkish comments from Federal Reserve official Patrick Harker, as well as Susan Collins.  Harker, from the Philadelphia Fed, said that rates must remain at current “restrictive” levels.  Boston Fed Susan Collins stated that it is possible that there may be more rate hikes, sending jitters in the market in anticipation of the Jackson Hole symposium tomorrow in the U.S. Economic data out of the U.S. came in mixed with Durable Goods Orders in July falling significantly while the Labor market reported a smaller number of jobless claims than originally anticipated; 230k versus 239k expected.  China will continue to be in the top of the headlines as data will be released next week, that will very likely point to a worsening economy.  China’s PMI data next Thursday will likely point to a slowing in both the service and manufacturing sector.

Equity markets all closed lower with the Dow down over 1% and NASDAQ closing at almost 2% lower.  S&P also closed lower by 1.35%.

Economic Calendar

EUR - German Final GDP q/q
EUR - German ifo Business Climate
EUR - Belgian NBB Business Climate
USD - FOMC Member Harker Speaks
USD - Revised UoM Consumer Sentiment
USD - Revised UoM Inflation Expectations
USD - Fed Chair Powell Speaks
All - Jackson Hole Symposium
USD - FOMC Member Goolsbee Speaks
EUR - ECB President Lagarde Speaks

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.6488 0.64137
nzd/usd 0.59795 0.5916
aud/nzd 1.08615 1.0835
usd/jpy 145.959 144.617
usd/cad 1.35874 1.35096
eur/usd 1.08764 1.08048
gbp/usd 1.27284 1.25909
aud/eur 1.68548 1.67541
aud/jpy 94.176 93.537
aud/cny 4.7177 4.6741
Equities and Commodities
S&P 500 4370.99
DOW 34064.7
Nasdaq 100 14783.5
ASX200 7086.55
GOLD 1916.71
WTI 78.89

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.