Marketwatch APAC

Daily Insights
November 20, 2023

Market Watch AU – 21st November 2023


The US-dollar continues its decline against all but one of the G10 majors as the consensus view from analysts emerges for the end of rate hikes from the US Fed. With that the AUD has again posted gains for its opening sessions of the week, AUDUSD grinding through the resistance around 0.6550’s and eyes now on the 0.6580/90 , as the bias for the AUD is shifting to a slightly bullish tone, though further supply into the resistance will agitate for slow going. Positive moves on European and Wall Street equity bourses has sparked attention to risk assets, though a successful US 20y Treasury auction did cool the sentiment and momentarily favour the US-dollar. RBA Gov Michele Bullock is due to deliver a speech first up for the day, at the ASIC Annual Forum, followed by the release of the latest RBA Meeting minutes later in the morning.

Wall Street indices saw the Nasdaq lead gains as tech stocks found initial favour, while consumer stocks remained tepid after Walmart expressed a cautionary outlook. The DJI rose +0.6% for the day, the S&P500 gained +0.7% and the Nasdaq rallied to a +1.1% gain for the session. Following the continued favour for commodity prices, especially oil, Australian shares are expected to open higher today, albeit holding out ahead of the release of the RBA Meeting minutes for November.

Gold prices pulled back after the success of the Treasury auction and uptick in yields, while investors await the release of the US Fed minutes later in the week.

Copper prices rallied for the day , spurred on by mine disruptions with a strike at a major mine in Peru and protests arising at a mine in Panama. LME Copper prices added 2% for the day. Dalian Iron Ore prices found favour to start the week, as sentiment cooled around Chinese authority intervention, noted lower inventories and concerns over supply disruptions.

Brent Crude Oil and WTI prices both extended gains for the day, as traders look to further supply cut expectations from OPEC in coming weeks.



Open today 0.6557

Yesterday’s Range 0.6494 / 0.6565


Open today  0.6037

Yesterday’s Range 0.5977 / 0.6043


Yesterday’s Range 1.0845 / 1.0896


Yesterday’s Range 0.5954 / 0.6007


Yesterday’s Range 4.6887 / 4.7099


Yesterday’s Range 0.5215 / 0.5258


We hope you have found our expertly curated MarketWatch analysis useful in navigating the ever-changing FX landscape. To enhance our services and make sure you receive the most relevant and timely insights we have recently made some exciting updates to our newsletter.
To continue receiving our curated MarketWatch insights, we kindly request you resubscribe to our mailing list here:

Economic Calendar

AUD - Monetary Policy Meeting Minutes
NZD - Credit Card Spending y/y
CHF - Trade Balance
GBP - Public Sector Net Borrowing
GBP - Monetary Policy Report Hearings
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 - NHPI m/m
USD - Existing Home Sales
NZD - GDT Price Index
EUR - ECB President Lagarde Speaks
USD - FOMC Meeting Minutes
USD - Treasury Sec Yellen Speaks
AUD - MI Leading Index m/m

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.65649 0.64944
nzd/usd 0.60431 0.59719
aud/nzd 1.0887 1.0825
usd/jpy 149.989 148.097
usd/cad 1.37492 1.36894
eur/usd 1.09519 1.08975
gbp/usd 1.25177 1.2445
aud/eur 1.67661 1.66451
aud/jpy 97.726 97.015
Equities and Commodities
S&P 500 4547.64
DOW 35139.2
Nasdaq 100 16031.4
ASX200 7075.87
GOLD 1977.27
WTI 77.57

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.