Marketwatch APAC

Daily Insights
November 26, 2023

Market Watch AU – 27th November 2023

The AUDUSD closed higher on Friday and is maintaining a positive trend, but once again finds supply at the 0.6590’s a tough contender.  A busy week for Central Bank data releases and senior committee members presenting at various forums.  RBA Governor, Michele Bulluck will be speaking on a panel with BoE Deputy Governor Dave Ramsden at the HKMA-BIS Conference in Hong Kong on Tuesday. The RBA meets next week and has made it very clear that their decision will be data dependent and this week there are plenty of releases for the Australian economy, that could be instrumental in that decision. Consumer Price Index (CPI) for October, Retail Sales and Q3 capex are all due. For AUDUSD trading today, China releases second tier data that is unlikely to be a market changer, so continued attempts to clear selling interest through 0.6590’s will be closely monitored if it is to remain positive and target next levels at 0.6650/60. Support has trailed higher to 0.6875/85 initially and the risk mood has improved with China announcing further support for the ailing property sector.

Wall Street experienced a quieter session on Friday with low volumes and little decisive direction. The DJI ended up +0.3%, the S&P500 up just+0.06%and the Nasdaq up +0.1%.  Australian shares are expected to open higher again today, with strong Iron Ore prices lifting enthusiasm for mining shares, while investors look ahead to the CPI release later in the week, for a hint of direction on interest rates after the RBA has clearly stated that it will be ‘data dependent’.

Gold prices held ground and closed out the week over $2000/oz as the US-dollar slips lower with US Treasury yields drifting, with investors raising hopes that the US Fed may be done with its rate hiking cycle.

Copper prices closed higher for the day, as demand from China and its efforts to support their property sector along with a slightly softer US-dollar, helped to underpin trading. Iron Ore prices on the Dalian exchange put on a fifth weekly gain, as property led demand outstripped concerns that the Chinese authorities campaign to monitor prices, was not enough to keep prices in check.

Brent Crude Oil prices fell for the day, as geo-political risks subsided and investors await the delayed OPEC+ meeting later this week.


Open today 0.6581

Yesterday’s Range 0.6550 / 0.6591


Open today  0.6080

Yesterday’s Range 0.6043 / 0.6093


Yesterday’s Range 1.0806 / 1.0857


Yesterday’s Range 0.6009 / 0.6027


Yesterday’s Range 4.6876 / 4.7143


Yesterday’s Range 0.5217 / 0.5240


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Economic Calendar

GBP - CBI Realized Sales
EUR - ECB President Lagarde Speaks
USD - New Home Sales

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.65908 0.65495
nzd/usd 0.60901 0.60442
aud/nzd 1.08509 1.08053
usd/jpy 149.71 149.199
usd/cad 1.37114 1.35935
eur/usd 1.09484 1.08949
gbp/usd 1.26152 1.25245
aud/eur 1.66339 1.65867
aud/jpy 98.539 97.952
Equities and Commodities
S&P 500 4558.39
DOW 35382.5
Nasdaq 100 15964.8
ASX200 7060.53
GOLD 2001.8
WTI 75.15

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.