Marketwatch APAC

Daily Insights
November 12, 2023

Market Watch AU – 13th November 2023


The AUDUSD dropped 2.3% last week resuming pressure to the downside and opens today just below Friday’s close at 0.6360. The RBA Statement of Monetary Policy on Friday, suggested that inflation has passed its peak in Australia, but still remains considerably higher than expected. A Lift in equities offshore and a firm tone to commodities has helped the pair to consolidate in early trading for Asia. Data releases for this week out of Australia and US will shape directional flows and expectations, with Australia’s Wage Price index and Jobs data on Thursday and US CPI on Wednesday and Retail sales on Thursday, being most prominent.  On the technical side, the AUDUSD looks to find initial support at 0.6350, while any advance will find supply at 0.6400/10, the old pivot level offering some resistance.

Global stocks and Wall Street equities rallied on Friday as mega-tech and growth stocks lifted amidst softening US Treasuries with investors looking through immediate headwinds and contemplating this weeks releases for inflation and forth-coming economic data. The DJI rose +1.2%, the S&P500 gained +1.6% and the Nasdaq closed higher by +2.1%. Following the offshore activities and the moves on global bourses, Australian shares are expected to open higher today, garnishing positive moves on commodities and heavyweight tech shares.

Gold prices drifted lower across the session as safe-haven demand continues to ease and Fed Chairman Powell’s comments earlier in the week intimated that US rates will remain higher for longer.

Copper prices were lower in the London session as investors take note of Fed Chairman Powell’s comments that held interest  rates firm for longer. Iron Ore prices finished the week on a strong note with traders hoping for improved demand from Chana’s property sector.

Brent Crude Oil prices added 2% in the final session of the week as traders closed short position and Iraq added their support to OPEC+’s oil cuts.



Open today 0.6358

Yesterday’s Range 0.6339 / 0.6372


Open today  0.5895

Yesterday’s Range 0.5879 / 0.5904


Yesterday’s Range 1.0777 / 1.0812


Yesterday’s Range 0.5941 / 0.5972


Yesterday’s Range 4.6309 / 4.6494


Yesterday’s Range 0.5198 / 0.5213


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Economic Calendar

GBP - Rightmove HPI m/m
JPY - Prelim Machine Tool Orders y/y
CNY - New Loans
CNY - M2 Money Supply y/y
EUR - EU Economic Forecasts
GBP - MPC Member Breeden Speaks
CAD - Bank Holiday
USD - FOMC Member Cook Speaks
GBP - CB Leading Index m/m
GBP - MPC Member Mann Speaks
USD - Federal Budget Balance
NZD - FPI m/m
AUD - Westpac Consumer Sentiment

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.63669 0.63386
nzd/usd 0.58779 21
aud/nzd 1.08028 1.07793
usd/jpy 151.601 151.221
usd/cad 1.38545 1.37808
eur/usd 1.06926 1.06561
gbp/usd 1.22378 1.21869
aud/eur 1.68326 1.67544
aud/jpy 96.42 96.035
Equities and Commodities
S&P 500 4412.02
DOW 34229.4
Nasdaq 100 15528.4
ASX200 7003.76
GOLD 1937.31
WTI 77.22

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.