Marketwatch APAC

Daily Insights
October 17, 2023


Open today 0.6365

Yesterday’s Range 0.6333 / 0.6379


Open today  0.5897

Yesterday’s Range 0.5872 / 0.5931


Yesterday’s Range 1.0687 / 1.0800


Yesterday’s Range 0.5997 / 0.6033


Yesterday’s Range 4.6310 / 4.6703



Yesterday’s Range 0.5184 / 0.5228

The AUDUSD has continued to climb, despite favourable US Retail sales print for September, as the markets focus on the release of the RBA Minutes from the October Meeting, which hinted at a hawkish tone and raises expectations that the central bank will deliver another rate hike in November. Attention from the Bank committee will now be on the Q3 Inflation data, out next week. China data today will set the scene for intraday moves with the release of GDP, Retail Sales and Industrial Production. China GDP is expected to come in at 4.4% yoy, which is below the PBoC targets of 5%, highlighting the nation’s slowdown in growth. RBA’s Michele Bullock speaks today at a ‘fire-side chat’ and may provide further colour to the Minutes release from yesterday. Look for some support at 0.63-cents on any weakness, with resistance emerging at the old pivot point of 0.64-cents, a key to topside gains allowing further recovery, with 0.6380’s noting some supply on the way.

Wall Street indices mixed for the day as US bond yields failed to sustain clear direction, US Retail Sales release hints at further Fed tightening and technology chipmaker stocks slumped after US banned the sale of the AS800 chip to China, manufactured by Nvidia. The DJI slipped -0.4%, the S&P500 near flat ending -0.01% and the Nasdaq closed lower by -0.25% at the close. Australian shares are looking to soften at the open today as investors digest the RBA Minutes and monitor the prospect of a possible rate hike next month.

Gold prices remains firm as investors remain on edge with their sights on escalations in the Middle East conflict and global inflation underpins the market mood.

Copper prices ease lower.  Iron Ore prices have remained firm as traders see confidence with the latest China stimulus but await latest GDP data due out today.

Brent Crude Oil prices returned gains as US President Biden prepares for his visit to Israel and Venezuela’s government re-opens talks with their opposition that could pave the way for a lift in US sanctions.


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Economic Calendar

CNY - Industrial Production y/y
CNY - GDP q/y
CNY - Retail Sales y/y
CNY - Fixed Asset Investment ytd/y
CNY - NBS Press Conference
CNY - Unemployment Rate
GBP - CPI y/y
GBP - Core CPI y/y
GBP - PPI Input m/m
GBP - PPI Output m/m
GBP - RPI y/y
CNY - Foreign Direct Investment ytd/y
EUR - Italian Trade Balance
GBP - HPI y/y
EUR - Final Core CPI y/y
EUR - Final CPI y/y
EUR - German 10-y Bond Auction
CAD - Housing Starts
USD - Building Permits
USD - Housing Starts
AUD - CB Leading Index m/m
USD - Crude Oil Inventories
USD - FOMC Member Waller Speaks
USD - FOMC Member Williams Speaks
USD - FOMC Member Bowman Speaks
USD - Beige Book
USD - Federal Budget Balance
USD - FOMC Member Harker Speaks
USD - TIC Long-Term Purchases
USD - FOMC Member Cook Speaks
JPY - Trade Balance

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.63798 0.63363
nzd/usd 0.5914 0.58708
aud/nzd 1.07995 1.07393
usd/jpy 149.85 148.745
usd/cad 1.37028 1.36084
eur/usd 1.05948 1.05329
gbp/usd 1.22159 1.2133
aud/eur 1.66566 1.65735
aud/jpy 95.505 94.559
Equities and Commodities
S&P 500 4370.54
DOW 33958.6
Nasdaq 100 15118.8
ASX200 7079.94
GOLD 1923.8
WTI 87.69

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.