Marketwatch North America

Daily Insights
October 13, 2023

The dollar index (DXY, average value of the dollar against a basket of major currencies) is lower today by 0.16%, retracing some of yesterday’s 0.74% gain. DXY near-term support is at 105.50 and resistance is near 107.50. The primary dollar declines are vs. the commodity currencies which have risen in step with today’s higher oil prices (+4.17% overnight). The USD is also lower vs. the safe-haven CHF (-0.29%) and JPY (-0.16%).

Dollar performance today: -0.35% vs. NOK, -0.30% vs. SEK, -0.29% vs. CHF, -0.16% vs. JPY, -0.12% vs. CAD, -0.08% vs. AUD, +0.03% vs. EUR & GBP, +0.34% vs. NZD.

UST yields are higher in all tenors with the biggest gains weighted towards the long end (10yr 0.087%).

Today’s rise in oil prices reverses the previous three days of consecutive losses which totaled -4.02%. Oil gains will encounter resistance at $87.00/barrel, and support is anchored at $82.00/barrel.

Gold has continued its recent rally, gaining 1.98% today and is +4.71% since the October 5th close at $1,820.01.

Consumer Sentiment data will be released later this morning, estimate is for a drop to 67.0 vs. the previous 68.1.

Economic Calendar

EUR - ECB President Lagarde Speaks
USD - FOMC Member Harker Speaks
USD - Prelim UoM Consumer Sentiment
USD - Prelim UoM Inflation Expectations

Market Indicators

Currency Pairs
Pair High Low
usd/jpy 149.827 149.451
eur/usd 1.05584 1.0514
gbp/usd 1.22253 1.216
aud/usd 0.63346 0.63054
usd/cad 1.36886 1.36586
eur/gbp 0.86483 0.86337
usd/mxn 17.9917 17.8411
Equities and Commodities
S&P 500 4367.1
NASDAQ 15225.9
DOW 33742.2
GOLD 1908.33
SILVER 22.36

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.