Marketwatch APAC

Daily Insights
November 23, 2023

Market Watch AU – 24th November 2023


A day of consolidation with a firmer tone for the Aussie yesterday as markets trade in a holding pattern with the US Thanksgiving Holiday. Yesterday’s release of the Judo Bank PMI’s data for Australia, broadly missed expectations and highlighted declining demand whilst still high inflation.  Expect markets to be thin today with the US expected to deliver a ‘half-hearted return’ with many traders taking a long weekend. Look for the AUDUSD to find support at the 0.6520’s offering buying opportunities and rallies to keep finding resistance at 0.6590’s. The NZDUSD has trended higher in early trade after their quarterly retail sale release which was flat versus the contraction of -1% expected. The US Global PMI’s release tonight will be the main interest for traders to close out the week and hopefully offer investors another tell-tale sign of where to for the US-dollar.

Wall Street was closed for Thanksgiving holiday. Australian shares are expected to open a touch higher today, following the lead from the northern hemisphere bourses who got a lift from their industrial sectors.

Gold prices held ground as the US-dollar slips lower with US Treasury yields drifting.

Base metal prices closed lower for the day, with LME Copper shedding $96/tonne, as signs that recent sluggish demand has allowed LME stockpiles to recover. Iron Ore prices on the Dalian exchange dropped 2.5% as Chinese authorities step up their campaign to monitor prices and attempt to cool the rally.

Brent Crude Oil prices dropped 1% for the day, as the market continues to digest what is to be taken from the delay in the OPEC+ meeting to next week.



Open today 0.6558

Yesterday’s Range 0.6540 / 0.6575


Open today  0.6048

Yesterday’s Range 0.6019 / 0.6066


Yesterday’s Range 1.0829 / 1.0872


Yesterday’s Range 0.6006 / 0.6025


Yesterday’s Range 4.6822 / 4.6944


Yesterday’s Range 0.5224 / 0.5252


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Economic Calendar

GBP - GfK Consumer Confidence
JPY - Flash Manufacturing PMI
EUR - German Final GDP q/q
EUR - German ifo Business Climate
EUR - German Buba President Nagel Speaks
EUR - ECB President Lagarde Speaks
CAD - Core Retail Sales m/m
CAD - Retail Sales m/m
EUR - Belgian NBB Business Climate
USD - Flash Manufacturing PMI
USD - Flash Services PMI

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.65746 0.6542
nzd/usd 0.60663 0.60203
aud/nzd 1.08661 1.08092
usd/jpy 149.691 148.884
usd/cad 1.37107 1.36505
eur/usd 1.09304 1.08871
gbp/usd 1.25694 1.24888
aud/eur 1.66503 1.65891
aud/jpy 98.193 97.658
Equities and Commodities
S&P 500 4558.96
DOW 35288.1
Nasdaq 100 16015
ASX200 7043.17
GOLD 1992.15
WTI 76.36

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.