Marketwatch APAC

Daily Insights
November 2, 2023

Market Watch AU – 3rd November 2023


The AUDUSD has cleared supply through the 0.64-cent level and made gains to 0.6455 overnight before retreating to the 0.6430’s where it open in Asia today. A lift in global equities bourses and softer Treasury yields, has resulted from the market foreseeing that the US Fed may be done with rate hikes for now.  Overnight the Bank of England also left their cash rate unchanged, but added that they did not expect to be cutting rates any time soon. US non-farm payrolls are due out tonight and will be closely monitored as a tighter labour market is an associated factor in the outlook for their interest rates. The AUDUSD has picked up a bullish tone, with global risk sentiment improving and the higher expectation that the RBA will raise rates next week at their November meeting, despite yesterday’s Trade numbers being somewhat less optimistic. Look for resistance at 0.6450/55 to stall the rallies ahead of 0.6500/10 and buying interest to support at 0.6410’s into the week end. In local data, Q3 Retail Sales ex Inflation is due for release but not expected to overly move the markets.

Wall Street adds to its previous day gains as investors foresee the conclusion to the US Fed rate hike cycle, plus the release of some upbeat quarterly earnings updates, adding to the bullish sentiment. The DJI rose +1.7%, the S&P500 gains +1.9% and the Nasdaq closed up +1.8%. Australian shares are expected to open higher again today, following the Wall Street mood and boosted by favourable commodity prices supporting the raw materials and energy sectors.

Gold prices turned positive for the day responding to the weaker US-dollar and easing Treasury yields, but attention to US Non-farm Payrolls should offer fresh cues.

Copper prices on the LME traded firm for the day as the US-dollar eased along with softer Treasury yields. Iron Ore prices traded another positive day amidst growing appetite for the raw material, however, nervousness over the China economy has kept gains in check.

Brent Crude Oil prices turned positive for the day as global risk appetite returned to the commodities complex.



Open today 0.6393

Yesterday’s Range 0.6398 / 0.6456


Open today  0.5846

Yesterday’s Range 0.5847 / 0.5917


Yesterday’s Range 1.0897 / 1.0944


Yesterday’s Range 0.6036 / 0.6076


Yesterday’s Range 4.6998 / 4.7275



Yesterday’s Range 0.5263 / 0.5291


We hope you have found our expertly curated MarketWatch analysis useful in navigating the ever-changing FX landscape. To enhance our services and make sure you receive the most relevant and timely insights we have recently made some exciting updates to our newsletter.
To continue receiving our curated MarketWatch insights, we kindly request you resubscribe to our mailing list here:

Economic Calendar

JPY - Bank Holiday
CNY - Caixin Services PMI
NZD - RBNZ Statement of Intent
EUR - German Trade Balance
EUR - French Industrial Production m/m
EUR - French Prelim Private Payrolls q/q
EUR - Spanish Unemployment Change
EUR - Italian Monthly Unemployment Rate
GBP - Final Services PMI
EUR - Unemployment Rate
USD - FOMC Member Barr Speaks
GBP - MPC Member Pill Speaks
CAD - Employment Change
CAD - Unemployment Rate
USD - Average Hourly Earnings m/m
USD - Non-Farm Employment Change
USD - Unemployment Rate
USD - Final Services PMI
USD - ISM Services PMI
GBP - MPC Member Haskel Speaks

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.64559 0.64127
nzd/usd 0.59171 0.58732
aud/nzd 1.09347 1.08882
usd/jpy 150.592 149.842
usd/cad 1.38518 1.37112
eur/usd 1.06675 1.05837
gbp/usd 1.22251 1.21552
aud/eur 1.6568 1.64563
aud/jpy 96.931 96.495
Equities and Commodities
S&P 500 4316.34
DOW 33833.8
Nasdaq 100 14898
ASX200 6982.37
GOLD 1985.49
WTI 82.63

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.