Marketwatch UK

Daily Insights
May 16, 2023

  • The Bloomberg Dollar Spot Index edges lower ahead of today’s Federal Reserve Chair Jerome Powell semi-annual testimony to the Congress. The Australian Dollar declined versus its peers after RBA increased their benchmark by 25 basis points as widely expected and suggested monthly CPI likely shows that inflation has peaked. USD/JPY trades near 136 and EUR/USD holds mid 1.20-1.21 range.
  • French unions prepare themselves for a historical day of strikes in a sixth day of protests, causing severe disruption in transportation, to pretest against President Macron’s plan to raise the minimum retirement age. People are urged to work from home where possible, with subway and commuter trains being affected.

Economic Calendar

AUD - Cash Rate
AUD - RBA Rate Statment
USD - Fed Chair Powell Testifies
CHF - SNB Chairman Jordan Speaks
AUD - RBA Gov Lowe Speaks

Market Indicators

Currency Pairs
Pair High Low
FLAG aud/usd 4321 1234
FLAG nzd/usd 5432 2345
FLAG aud/eur 6543 3456
FLAG aud/gbp 7654 4567
FLAG aud/jpy 8765 5678
FLAG aud/cny 9876 6789
FLAG aud/nzd 10987 7890
Equities and Commodities
ASX200 33808.96
S&P500 11891.56
CSI300 4133.52
GOLD 7895.09
WTI 76.13

Pair to Watch

  • GBPUSD fell to a new session low after BOE Policymaker Catherine Mann warned it could drop in the months ahead
  • Intraday support 1.1915 Feb Low
  • Intraday resistance 1.2047, 21 Day MA

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.