A quiet Asia-Pac session has seen NZD/USD.....>

FOREX: A quiet Asia-Pac session has seen NZD/USD stick to a tight range, as the

RBNZ left its OCR unchanged, in line with exp. The rate knee-jerked to highs of

$0.6814 as the Bank removed its language re: next move in OCR could be up or

down, but retraced immediately as data dependence & 2-way risks to its outlook

were stressed. In the press conference Gov. Orr stressed that he isn't taking

the possibility of a rate cut off of the table, noting that the Bank is

comfortable with its foot on the accelerator. The Bank lifted its short run

inflation exp, left its OCR track unchanged & lowered its NZD TWI outlook.

NZD/USD bulls continue to look for a close above $0.6800. 

- JPY underperformed in G10, with the Nikkei 225 adding ~2%. 

- Participants largely shrugged off the latest Chinese trade figures, as the

trade balance widened, but missed exp., with imports particularly strong. 

- Focus now falls on today's FOMC decision, with no change exp. & most looking

for a hike in December, eyes on language re: the economy, while most will look

to the minutes for any discussion re: IOER/and floor/corridor system debate.

Elsewhere, ECB's Pres Draghi, Villeroy & Coeure will speak today.