Marketwatch APAC

Daily Insights
December 21, 2023

Market Watch AU – 22nd December 2023


The AUDUSD has rallied over 1% , through 0.68-cents, from yesterday’s open with corporate flows driving the move along with higher metals prices. The US-dollar slipped lower after US Q3 GDP was revised lower to 4.9% from 5.2% and annualized core PCE softening to 2% from 2.3%. With US Treasury yields easing and softening of the US-dollar , bodes well for the AUDUSD to continue to advance higher. The initial support level revises to 0.6730’s as the market continues to ‘chip away’ at the supply levels through 0.68-cents towards 0.6830.


Wall Street ends the day higher with tech sector stocks taking the lead. The DJI posted a +0.9%gain, the S&P500 climbed +1% and the Nasdaq was up +1.3% by close.  Australian shares are expected to open higher today, as investors follow the Wall Street lead, all the while looking ahead to the US data later today.


Gold prices got a bit of a lift after the US GDP data gave investors further hope that there will be rate cut prospects next year.

Amongst the base metals, Copper prices edged higher on the LME as did Nickel, while Tin and Zinc lost ground . Iron Ore futures on the Dalian exchange continue to rise modestly yesterday as Beijing authorities remain encouraging to ongoing economic stimulus support.

Brent Crude Oil prices slipped today on the news that Angola is leaving the Organization of the Petroleum Exporting Countries (OPEC).




Open today 0.6802

Yesterday’s Range 0.6726 / 0.6804


Open today  0.6295

Yesterday’s Range 0.6239 / 0.6295


Yesterday’s Range 1.0765 / 1.0818


Yesterday’s Range 0.6146 / 0.6185


Yesterday’s Range 4.8091 / 4.8592


Yesterday’s Range 0.5321 / 0.5368


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Economic Calendar

AUD - Private Sector Credit m/m
EUR - German Import Prices m/m
GBP - Retail Sales m/m
GBP - Current Account
GBP - Final GDP q/q
GBP - Revised Business Investment q/q
CNY - Foreign Direct Investment ytd/y
CAD - GDP m/m
USD - Core PCE Price Index m/m
USD - Core Durable Goods Orders m/m
USD - Durable Goods Orders m/m
USD - Personal Income m/m
USD - Personal Spending m/m
EUR - Belgian NBB Business Climate
USD - Revised UoM Consumer Sentiment
USD - New Home Sales
USD - Revised UoM Inflation Expectations
AUD - CB Leading Index m/m

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.68037 0.67358
nzd/usd 0.62951 0.62385
aud/nzd 1.08176 1.07708
usd/jpy 143.565 142.046
usd/cad 1.33599 1.32756
eur/usd 1.10048 1.09351
gbp/usd 1.26957 1.26122
aud/eur 1.62663 1.61676
aud/jpy 96.765 96.326
Equities and Commodities
S&P 500 4753.83
DOW 37420.5
Nasdaq 100 16779.6
ASX200 7544.29
GOLD 2044.78
WTI 73.99

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.