Marketwatch APAC

Daily Insights
November 27, 2023

Market Watch AU – 28th November 2023


The AUDUSD has managed to clear through selling interests around 0.6590’s and pierced 0.66-cents in the off-shore session. A decline in US-dollar strength and softer Treasury yields have been the ongoing impetus for the Aussie gains. RBA Governor, Michele Bullock will be speaking on a panel with BoE Deputy Governor Dave Ramsden at the HKMA-BIS Conference in Hong Kong today and will be closely monitored for any hints to next week’s Central Bank meeting. Australian Retail Sales (Oct) are due today and are expected to show a slight increase of 0.1% for the month. The key data piece though, will be the CPI release for Australia tomorrow. Market sentiment remains mixed so further gains on the AUDUSD will be a grind into the next resistance target at 0.6650/60. Support has trailed higher to 0.6870/80 on any pull back and Consumer Price Index (CPI) for October, Retail Sales and Q3 capex are all due.


Wall Street indices were mixed for the session with investors unimpressed by Black Friday and Cyber Monday sales forecasts. This follows a subdued start to the week on European markets, with oil stocks and healthcare sector slipping lower. The DJI ended lower -0.1%, the S&P500 lost -0.06%and the Nasdaq up +0.2%.  Australian shares are expected to open slightly higher today, channeling some of its northern hemisphere peers, though investors will be looking ahead to the CPI release later in the week, for a hint of direction on interest rates by the RBA, while softer commodity shares are likely to offset any benchmark gains.


Gold prices have continued to benefit from a lower US-dollar and US Treasury yields drifting, as investors continue to speculate that the US Fed may be done with its rate hiking cycle. Spot gold is up 0.5% on the day.

Copper prices dipped lower following weak China data and raised concern for demand outlook. Iron Ore prices on the Dalian exchange inched out a small gain, as Chinese authorities campaign to monitor prices, and investors await details on property-related stimulus from the government.

Brent Crude Oil prices have continued to trade soft, back under $80/bbl, but downside is limited as investors await the delayed OPEC+ meeting later this week where expectations are for further production cuts to be entertained.




Open today 0.6607

Yesterday’s Range 0.6567 / 0.6614


Open today  0.6098

Yesterday’s Range 0.6061 / 0.6107


Yesterday’s Range 1.0813 / 1.0854


Yesterday’s Range 0.6001 / 0.6038


Yesterday’s Range 4.7011 / 4.7344


Yesterday’s Range 0.5211 / 0.5235


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Economic Calendar

GBP - BRC Shop Price Index y/y
AUD - Retail Sales m/m
AUD - RBA Gov Bullock Speaks
GBP - MPC Member Ramsden Speaks
JPY - BOJ Core CPI y/y
EUR - German GfK Consumer Climate
GBP - Nationwide HPI m/m
EUR - German Buba President Nagel Speaks
EUR - M3 Money Supply y/y
EUR - Private Loans y/y
GBP - 30-y Bond Auction
CNY - CB Leading Index m/m
USD - S&P/CS Composite-20 HPI y/y
USD - HPI m/m
USD - CB Consumer Confidence
USD - Richmond Manufacturing Index
USD - FOMC Member Goolsbee Speaks
USD - FOMC Member Waller Speaks
USD - FOMC Member Bowman Speaks
EUR - ECB President Lagarde Speaks
GBP - MPC Member Haskel Speaks
USD - FOMC Member Barr Speaks

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.6614 0.65668
nzd/usd 0.61072 0.60607
aud/nzd 1.08541 1.07946
usd/jpy 149.674 148.425
usd/cad 1.36608 1.35998
eur/usd 1.09592 1.0925
gbp/usd 1.26442 1.25897
aud/eur 1.66652 1.65577
aud/jpy 98.49 97.809
Equities and Commodities
S&P 500 4552.77
DOW 35335.6
Nasdaq 100 15970.8
ASX200 6995.01
GOLD 2014.27
WTI 75

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.