Marketwatch APAC

Daily Insights
December 14, 2023

Market Watch AU – 15th December 2023


The AUDUSD certainly consolidated its gains in yesterday’s session, hitting a four month high after local labour force numbers beat the market expectations and the US-dollar tumbles after the US central bank fuelled a risk rally. Employment data for Australia exceeded expectations with total employment jumping by 61.5k, versus the expected figure of 11k. The unemployment rate rose from 3.8% to 3.9% due to a rise in the participation rate, which reached a record high. This puts the RBA on notice for another possible rate hike in February. Also overnight, the Bank of England , the European Central Bank and the Swiss National Bank all left their cash rate on hold, however, pushed back on the notion of rate cut calls. The AUDUSD pair once again finds itself in familiar congestion level over 0.67-cents and will look to keep consolidating gains and targeting to the upper channel level at 0.6770. Any pull back should find support at 0.6615/20 and then 0.6550 behind.


Wall Street stocks lost momentum across the session as investors recycled out of momentum growth stocks due to the US Fed’s revision of interest rate outlooks for next year. The DJI was up +0.2%, the S&P500 gained +0.1% and the Nasdaq dropped -0.05% by close.  Australian shares look to open higher with enthusiasm for an improved outlook for 2024 as the US central bank hints at cheaper borrowing costs ahead.


Gold prices continue their gains as US-dollar slips lower, along with US Treasury yields, on the back of the revised US Fed outlook.

Copper prices were in ‘catch-up’ mode making the gains it missed from the previous session due to a weaker US-dollar after the US-Fed meeting following revelations that the central bank expects cheaper lending conditions in 2024. Iron Ore futures on the Dalian exchange declined further as the market digests the lack of new China stimulus measures and data showing weaker than expected bank lending last month.

Crude Oil prices were up considerably for the day, adding to previous session gains, as the IEA lifted its oil demand forecast for next year and the US-dollar declined.




Open today 0.6699

Yesterday’s Range 0.6655 / 0.6729


Open today  0.6206

Yesterday’s Range 0.6170 / 0.6249


Yesterday’s Range 1.0755 / 1.0816


Yesterday’s Range 0.6090 / 0.6170


Yesterday’s Range 4.7513 / 4.8023


Yesterday’s Range 0.5246 / 0.5320


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Economic Calendar

GBP - GfK Consumer Confidence
JPY - Flash Manufacturing PMI
CNY - New Home Prices m/m
CNY - Industrial Production y/y
CNY - Retail Sales y/y
CNY - Fixed Asset Investment ytd/y
CNY - NBS Press Conference
CNY - Unemployment Rate
JPY - Tertiary Industry Activity m/m
CNY - Foreign Direct Investment ytd/y
EUR - French Final CPI m/m
EUR - French Flash Manufacturing PMI
EUR - French Flash Services PMI
EUR - German Flash Manufacturing PMI
EUR - German Flash Services PMI
EUR - Flash Manufacturing PMI
EUR - Flash Services PMI
GBP - Flash Manufacturing PMI
GBP - Flash Services PMI
EUR - Italian Trade Balance
EUR - Trade Balance
GBP - MPC Member Ramsden Speaks
CAD - Housing Starts
CAD - Foreign Securities Purchases
CAD - Wholesale Sales m/m
USD - Empire State Manufacturing Index
USD - Industrial Production m/m
USD - Capacity Utilization Rate
USD - Flash Manufacturing PMI
USD - Flash Services PMI
CAD - BOC Gov Macklem Speaks
USD - TIC Long-Term Purchases

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.67285 0.66619
nzd/usd 0.62495 0.61855
aud/nzd 1.0816 1.07457
usd/jpy 142.908 140.944
usd/cad 1.35101 1.33939
eur/usd 1.10092 1.08791
gbp/usd 1.27939 1.26118
aud/eur 1.64212 1.62078
aud/jpy 95.507 94.817
Equities and Commodities
S&P 500 4716.44
DOW 37217.3
Nasdaq 100 16534.3
ASX200 7439.92
GOLD 2036.17
WTI 71.71

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.