Marketwatch APAC

Daily Insights
December 18, 2023

Market Watch AU – 19th December 2023


The AUDUSD was in a bit of a holding pattern, though thinner market activity allowed for a modest range. The pair held on to gains made last week while chipping away at layers of supply through to 0.6725/35. Ahead today the market will look for the release of the RBA Minutes to shed some light on how the central bank is lining up the outlook for 2024. Investors will be trawling through the minutes to understand why they paused at he December meeting. The PBoC is also scheduled for its announcement on interest rates. The AUDUSD pair has been trading s trending channel, so day traders will look to continuing support at 0.6650/60 and grinding gains through to the resistance level at 0.6770.


Wall Street stocks advanced in the opening session of the week as investor look the outlook for rate cuts by the Fed into next year. The DJI was up +0.05%, the S&P500 gained +0.6% and the Nasdaq gained +0.7% by close.  Australian shares are expected to open the day on the front foot with firmer energy and gold shares taking the charge, while the lead from Wall Street will also offer some additional support today.


Gold prices held up for the day as market players were seen to buy dips, however, investor focus is turning to US inflation data for further clues as to the direction for the US Fed on interest rates next year.

Copper prices softened over weak demand from China, though mine closures limited the extent of the fall amidst the prospect of tighter supply. Iron Ore futures on the Dalian exchange declined on falling hopes for further China stimulus measures forthcoming.

Crude Oil prices traded higher amid BP’s decision to suspend shipments through the Red Sea after the Houthi incident last week.




Open today 0.6706

Yesterday’s Range 0.6690 / 0.6735


Open today  0.6212

Yesterday’s Range 0.6186 / 0.6251


Yesterday’s Range 1.0759 / 1.0833


Yesterday’s Range 0.6127 / 0.6167


Yesterday’s Range 4.7741 / 4.8069


Yesterday’s Range 0.5269 / 0.5317


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Economic Calendar

NZD - ANZ Business Confidence
AUD - Monetary Policy Meeting Minutes
JPY - Monetary Policy Statement
JPY - BOJ Policy Rate
JPY - BOJ Press Conference
CHF - Trade Balance
CNY - Foreign Direct Investment ytd/y
EUR - Final Core CPI y/y
EUR - Final CPI y/y
GBP - 10-y Bond Auction
GBP - CBI Industrial Order Expectations
GBP - MPC Member Breeden Speaks
CAD - CPI m/m
CAD - Median CPI y/y
CAD - Trimmed CPI y/y
CAD - Common CPI y/y
CAD - Core CPI m/m
CAD - IPPI m/m
CAD - RMPI m/m
USD - Building Permits
USD - Housing Starts
USD - FOMC Member Barkin Speaks
NZD - GDT Price Index
USD - FOMC Member Bostic Speaks
NZD - RBNZ Gov Orr Speaks
USD - TIC Long-Term Purchases
USD - FOMC Member Goolsbee Speaks
AUD - MI Leading Index m/m
JPY - Trade Balance

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.67355 0.66845
nzd/usd 0.6251 0.61693
aud/nzd 1.08045 1.07356
usd/jpy 143.158 141.99
usd/cad 1.3409 1.33494
eur/usd 1.09312 1.08918
gbp/usd 1.27039 1.26286
aud/eur 1.63205 1.62087
aud/jpy 96.141 94.926
Equities and Commodities
S&P 500 4746.19
DOW 37339.1
Nasdaq 100 16742.3
ASX200 7443.39
GOLD 2026.55
WTI 72.46

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.