Marketwatch APAC

Daily Insights
November 15, 2023

Market Watch AU – 16th November 2023


The US-dollar managed a bounce off its biggest fall in a year, but the AUUSD has remained resilient and opens Asia back above 0.65-cents today after touching 6540’s overnight. US Retail Sales were the instigator of the move, reporting a decline for October, but by not as much as much as the market analysts had expected. Traders today will be waiting for the release of the Australian Labour data for October which is likely to be a contributing factor for the RBA policy meeting next month. Analysts are expecting a rise in jobs numbers by 20k, with a marginal uptick in unemployment from 3.6% last, to 3.7% for October.  As mentioned, the AUDUSD opens our day around the 0.65-cent level with a neutral to slightly positive bias and will be looking for a broader range to hold between 0.6400/0.6600. Also in the Asia session will be the release of Japanese Trade data and China House Prices report with the latter garnishing attention for any signs that their property sector may be stabalising.

Wall Street equities edged higher, as investors contemplate the Fed is now done with rate rises after the latest round of economic data. The DJI rose +0.5%, the S&P500 rallied +0.3% and the Nasdaq gained +0.2%. Following the offshore activities and the moves on global bourses, Australian shares are expected to open a little lower today, after yesterdays Q3 Wage report showed a rise and dampened local risk appetite.

Gold prices eased slightly against a rebounding US-dollar but the case for the Fed to be thought to be done with rate increases for now, is providing a floor for prices.

Copper prices trade higher in response to stronger industrial production data for China, though the firmer US-dollar tempered some of the gains. LME Copper gained just +0.5% at close. Dalian Iron Ore prices closed higher +1%,  as traders received the latest Industrial output data for China well and hoped for ongoing support to their ailing property sector.

Brent Crude Oil prices turned south for the day, following a bigger than expected rise in US inventories report along with heightened concerns for demand out of Asia.



Open today 0.65

Yesterday’s Range 0.6483 / 0.6542


Open today  0.60

Yesterday’s Range 0.5998 / 0.6054


Yesterday’s Range 1.0774 / 1.0837


Yesterday’s Range 0.5966 / 0.6011


Yesterday’s Range 4.7054 / 4.7378


Yesterday’s Range 0.5195 / 0.5250


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Economic Calendar

AUD - MI Inflation Expectations
AUD - Employment Change
AUD - Unemployment Rate
CNY - New Home Prices m/m
JPY - Tertiary Industry Activity m/m
EUR - Italian Trade Balance
EUR - Spanish 10-y Bond Auction
EUR - ECB President Lagarde Speaks
USD - FOMC Member Barr Speaks
CAD - Housing Starts
USD - Unemployment Claims
USD - Philly Fed Manufacturing Index
USD - Import Prices m/m
USD - Industrial Production m/m
USD - Capacity Utilization Rate
USD - FOMC Member Williams Speaks
USD - NAHB Housing Market Index
USD - Natural Gas Storage
USD - FOMC Member Waller Speaks
GBP - MPC Member Ramsden Speaks
USD - FOMC Member Cook Speaks
USD - TIC Long-Term Purchases
NZD - PPI Input q/q
NZD - PPI Output q/q

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.65418 0.64831
nzd/usd 0.60541 0.59975
aud/nzd 1.08252 1.07738
usd/jpy 151.42 150.036
usd/cad 1.37097 1.36543
eur/usd 1.08854 1.08315
gbp/usd 1.24974 1.24036
aud/eur 1.67627 1.66352
aud/jpy 98.585 97.641
Equities and Commodities
S&P 500 4499.74
DOW 34965.2
Nasdaq 100 15783.7
ASX200 7106.17
GOLD 1959.86
WTI 76.55

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.