Marketwatch APAC

Daily Insights
November 21, 2023

Market Watch AU – 22nd November 2023


The Aussie got another day on the front foot, seeing 0.6590 the high, after RBA Gov Bullock comments earlier in the day to the effect that underlying demand is contributing to the inflation challenge, making it a longer term concern over the next one to two years. She also believes that progress in employment can be sustained. The implication here though, is there could be more hikes to come. November RBA Meeting minutes were also met with a hawkish tone and  investor mood in the Asia session were optimistic with firm commodity prices and the potential of stimulus measures for China. Overnight the release of the Fed Meeting minutes gave the US-dollar some attention as FOMC members noted that inflation remained well above their target but noted that rates would only need to be raised if subsequent data does not indicate a sufficient response to a longer term restrictive stance to policy. Nothing of note on the Australian eco calendar today so look for rallies in the AUDUSD to keep finding resistance at 0.6590’s while support at the 0.65-cent levels will be required if the pair is to regain momentum for a top side advance. Traders will watch the AUDJPY and USDCNH flows for hints to AUD sentiment and directional flows across the day.

Wall Street indices finished lower after the minutes from the latest Fed Meeting showed officials agreed to proceed with a cautious approach to raising rates further, but intimated that policy will remain restrictive for much longer. The DJI was down -0.2% for the day, the S&P500 fell -0.2% and the Nasdaq lost -0.6% for the session. Australian shares are expected to open lower today, taking its cue from Wall Street moves overnight.

Gold prices advanced back over $2,000/ounce, lifted by the expectation from investors that  the US Fed has finished raising interest rates.

Copper prices rallied again for another day , lifted by hopes for more support to the China property sector, being one of the worlds largest consumers for the base metal. Dalian Iron Ore prices edged higher again as sentiment got a boost from Chinese authorities latest support to their property sector, along with noted lower inventories and concerns over supply disruptions.

Brent Crude Oil prices cooled after a couple of days of strong gains, as traders begin to position ahead of this weekends OPEC+ meeting and the expectation that they may introduce further production cuts.



Open today 0.6556

Yesterday’s Range 0.6545 / 0.6590


Open today  0.6049

Yesterday’s Range 0.6029 / 0.6086


Yesterday’s Range 1.0814 / 1.0875


Yesterday’s Range 0.5990 / 0.6015


Yesterday’s Range 4.6766 / 4.7037


Yesterday’s Range 0.5225 / 0.5253


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 - RBA Gov Bullock Speaks
EUR - ECB Financial Stability Review
EUR - Dutch Parliamentary Election
GBP - Monetary Policy Report Hearings
GBP - CBI Industrial Order Expectations
GBP - Autumn Forecast Statement
USD - Unemployment Claims
USD - Core Durable Goods Orders m/m
USD - Durable Goods Orders m/m
EUR - Consumer Confidence
USD - Revised UoM Consumer Sentiment
USD - Revised UoM Inflation Expectations
USD - Crude Oil Inventories
EUR - German Buba President Nagel Speaks
CAD - BOC Gov Macklem Speaks
USD - Natural Gas Storage
AUD - Flash Manufacturing PMI
AUD - Flash Services PMI

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.65895 0.65423
nzd/usd 0.60859 0.60363
aud/nzd 1.08691 1.08012
usd/jpy 148.596 147.151
usd/cad 1.37311 1.36773
eur/usd 1.0965 1.08939
gbp/usd 1.2559 1.25044
aud/eur 1.66935 1.65811
aud/jpy 97.419 96.826
Equities and Commodities
S&P 500 4536.31
DOW 35079.7
Nasdaq 100 15920.1
ASX200 7073.64
GOLD 1997.8
WTI 77.85

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.