Marketwatch APAC

Daily Insights
December 12, 2023

Market Watch AU – 13th December 2023


Overnight the key event was the US CPI release, which came in around expectations but gave the US-dollar a bit of a ride following the print. The US-dollar initially dropped but bounced quickly , however, still holding negative territory for the day. The AUDUSD in response initially gained to 0.6610’s before retreating to 0.6550’s support, where it opens our day in Asia. The US inflation eased 3.1%yoy in November and was in line with forecasts. Core CPI remained unchanged at 4% which also matched consensus. This report shouldn’t change the Fed’s hawkish rate path of ‘higher for longer’, though may temper markets expectation for 3 or 4 rate hikes next year. Locally, we had the release of the Westpac Consumer Confidence, which rebounded with a 2.7% gain and NAB Business Confidence index which slipped to -9, its worst level since 2012 outside of the pandemic period. RBA Governor Michele Bullock in her speech yesterday said that the RBA would continue to monitor data in determining its rate path, reiterating that the central bank was aiming to slow the economy enough to reduce inflation to the bank target while preserving the employment gains achieved over the past few years. The AUDUSD pair looks to hold its consolidation pattern ahead of Australian Employment later in the week and results of the US Fed meeting. So look to support at 0.6530’s and rallies exhausting at 0.6630’s.


Wall Street indices extend gains after the release of the US CPI data which was in line with expectations. The DJI was up +0.5%, the S&P500 gained +0.5% and the Nasdaq climbed just +0.7% by close.  Australian shares are expected to remain steady at the open with potential downside in the energy sector after the fall in oil prices overnight, while US CPI release trims hopes for a Fed rate cut any time soon.


Gold prices eased as US inflation data remains firm and boosts market expectations that rates will remain higher for longer in the US. As geopolitical tensions remain precarious, the lustre metal is likely to remain supported and attract buyers on significant dips.

Copper prices grind higher on cautious optimism amid economic signals. Iron Ore futures on the Dalian exchange declined.

Crude Oil prices dumped  over 3% as concerns remain for oversupply, with the US Energy Information Administration reducing its price forecasts for 2024 by 11%.




Open today 0.6560

Yesterday’s Range 0.6540 / 0.6612


Open today  0.6134

Yesterday’s Range 0.6105 / 0.6170


Yesterday’s Range 1.0693 / 1.0732


Yesterday’s Range 0.6071 / 0.6127


Yesterday’s Range 4.7059 / 4.7446


Yesterday’s Range 0.5217 / 0.5249


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 - Mid-Year Economic and Fiscal Outlook
GBP - GDP m/m
GBP - Construction Output m/m
GBP - Goods Trade Balance
GBP - Index of Services 3m/3m
GBP - Industrial Production m/m
GBP - Manufacturing Production m/m
CHF - SECO Economic Forecasts
EUR - Italian Quarterly Unemployment Rate
CNY - New Loans
CNY - M2 Money Supply y/y
EUR - Industrial Production m/m
GBP - 30-y Bond Auction
GBP - NIESR GDP Estimate
USD - Core PPI m/m
USD - PPI m/m
GBP - CB Leading Index m/m
USD - Crude Oil Inventories
USD - Federal Funds Rate
USD - FOMC Economic Projections
USD - FOMC Statement
USD - FOMC Press Conference
NZD - GDP q/q
JPY - Core Machinery Orders m/m

Market Indicators

Currency Pairs
Pair High Low
Equities and Commodities
S&P 500
Nasdaq 100

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.