Antipodean Divergence

AUD has retained some of Monday's bid early in the Asia-Pac session, finding tailwinds from the gain in crude oil prices after the OPEC+ group stuck to the script and raised output by 400k bpd, despite speculation of an 800k bpd rise. Focus now turns to the RBA rate announcement later in the session, the meeting isn't set to provide any fireworks given the excitement witnessed in recent months and the recent tapering of the Bank's bond purchases.

• NZD has shed a handful of pips, pressured after the release of NZIER's Quarterly Survey of Business Opinion, which showed "a weakening in business confidence in the September quarter, despite demand in firms' own business holding up," but has managed to shake off this initial weakness. The QSBO is closely watched by the RBNZ, who use it to support their economic estimates.
• A reminder that the ongoing Chinese holiday will sap liquidity from the Asia-Pac session. Looking ahead French industrial production and Eurozone PPI are highlights from the European session, ISM Services PMI will headline the US data calendar on Tuesday.