Marketwatch APAC

Daily Insights
December 11, 2023

Market Watch AU – 12th December 2023


The AUDUSD traded lower yesterday, led by the Chinese Renminbi weakness amid increasing deflationary pressure, as traders await further data releases and results from the US Fed meeting this week. For today we look to a speech from RBA Gov Michele Bullock at the Australian Payment Network Summit in Sydney, along with Westpac Consumer Confidence and NAB Business Confidence surveys, to entertain the day. The pair looks to hold its consolidation pattern ahead of these major data pieces and events, looking to support at 0.6530’s and rallies exhausting at 0.6630’s.


Wall Street indices posted session gains for the as investors turned their attention to the CPI data and the US Fed meeting that will be held over the next two days, that will shape expectations for interest rates over the coming months. The DJI was up +0.3%, the S&P500 gained +0.3% and the Nasdaq climbed just +0.1% by close.  Australian shares are expected to remain steady as  investors await fresh news from a number of economic releases and central bank meetings this week, including Australian employment data for November, due on Thursday.


Gold prices slipped further lower yesterday as US Treasury yields rallied and US-dollar firmed ahead of key events and data this week that could influence the US Fed’s decision for its policy path.

Copper prices slipped lower under the weight of an advancing US-dollar. Iron Ore futures on the Dalian exchange declined after disappointing data from China underscored how its economic recovery has stalled, despite the recent stream of pledges made by Beijing to bolster stimulus. Economic targets for 2024 will be set at the Communist Party’s annual conference, slated to be held later this month.

Brent Crude Oil prices dipped just 5cents as trading held steady as concerns remain over oversupply, despite OPEC+ cuts and softer demand due next year.




Open today 0.6568

Yesterday’s Range 0.6550 / 0.6585


Open today  0.6124

Yesterday’s Range 0.6106 / 0.6146


Yesterday’s Range 1.0688 / 1.0763


Yesterday’s Range 0.6087 / 0.6118


Yesterday’s Range 4.7119 / 4.7288


Yesterday’s Range 0.5212 / 0.5248


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Economic Calendar

AUD - NAB Business Confidence
EUR - German WPI m/m
GBP - Claimant Count Change
GBP - Average Earnings Index 3m/y
GBP - Unemployment Rate
CNY - New Loans
CNY - M2 Money Supply y/y
EUR - ZEW Economic Sentiment
EUR - German ZEW Economic Sentiment
USD - NFIB Small Business Index
GBP - NIESR GDP Estimate
USD - Core CPI m/m
USD - CPI m/m
USD - CPI y/y
USD - 30-y Bond Auction
USD - Federal Budget Balance
NZD - Current Account
NZD - FPI m/m
JPY - Tankan Manufacturing Index
JPY - Tankan Non-Manufacturing Index

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.6583 0.65498
nzd/usd 0.61319 0.61042
aud/nzd 1.07462 1.06832
usd/jpy 146.589 144.73
usd/cad 1.36043 1.35406
eur/usd 1.0779 1.07415
gbp/usd 1.25909 1.2499
aud/eur 1.64294 1.63291
aud/jpy 96.147 94.982
Equities and Commodities
S&P 500 4622.81
DOW 36399.2
Nasdaq 100 16232.9
ASX200 7216.09
GOLD 1981.15
WTI 71.49

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.