Marketwatch APAC

Daily Insights
October 29, 2023


Open today 0.6346

Yesterday’s Range 0.6320 / 0.6367


Open today  0.5824

Yesterday’s Range 0.5806 / 0.5844


Yesterday’s Range 1.0855 / 1.0908


Yesterday’s Range 0.5983 / 0.6024


Yesterday’s Range 4.6313 / 4.6661



Yesterday’s Range 0.5211 / 0.5242

We look forward to a busy week of central bank meetings , US and local data with the US Payrolls taking centre stage on Friday. The Fed meets on Wednesday and widely expected to remain on hold, as too is the BoE at their meeting on Thursday. The BoJ meet tomorrow and are expected to tweak their policy, with consideration to raising the cap on their 10y government bond to accommodate rising yields. Australian data will include Building Approvals, Trade data and Q3 Retail sales, all the while looking ahead to the Nov 7 RBA Meeting next week, where markets are leaning towards a hawkish tilt. The AUDUSD is opening the week in neutral territory after a 0.2% rise on Friday against the USD. Risk aversion still circulates markets and any gains will be seen as an opportunity to fade the rally. A double bottom at the 0.6270/75 offers support and resistance around the 0.6400/10 remains. The Aust Retail data release today will the key to trader momentum and immediate direction, with expectations for a +0.3% return for the month of September.

Wall Street stocks finished mostly lower, though tech shares had a lift, as investors mulled over a busy week of earnings results and US economic data that suggested interest rates would remain higher for longer. The DJI fell -1.1%, the S&P500 loses -0.5% and the Nasdaq closed up +0.4%. Australian shares are expected to open lower today, as investors remain cautious as to the strong economic data in the US and dampening market sentiment ahead of the Fed meeting later this week.

Gold prices tops US$2000, as the Middle East conflict intensifies and investors sway towards safer haven assets.

Copper prices on the LME rose, on a softer US-dollar and upbeat signs of a recovering economy in China. Dalian Iron Ore prices rallied 2% higher as signs of China’s economy look to stabalise, buoyed by expectation for additional stimulus from Beijing.

Brent Crude Oil prices climbed to near 3% for the session, as tensions in the Middle East prompt concerns for a disruption to crude supply.


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Economic Calendar

AUD - Retail Sales m/m
EUR - German Prelim CPI m/m
CHF - KOF Economic Barometer
EUR - Spanish Flash CPI y/y
EUR - German Prelim GDP q/q
GBP - M4 Money Supply m/m
GBP - Mortgage Approvals
GBP - Net Lending to Individuals m/m
CAD - BOC Gov Macklem Speaks
NZD - Building Consents m/m
JPY - Unemployment Rate
JPY - Prelim Industrial Production m/m
JPY - Retail Sales y/y

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.63679 0.63243
nzd/usd 0.5844 0.58053
aud/nzd 1.09068 1.08621
usd/jpy 150.411 149.458
usd/cad 1.38803 1.37959
eur/usd 1.0597 1.05352
gbp/usd 1.21625 1.21024
aud/eur 1.66953 1.65997
aud/jpy 95.368 94.624
Equities and Commodities
S&P 500 4120.73
DOW 32390.8
Nasdaq 100 14193.5
ASX200 6761.12
GOLD 2005.44
WTI 85.18

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.