Antipodean FX sinks as CBs lean dovish -AUD...>

FOREX: Antipodean FX sinks as CBs lean dovish

-AUD and NZD sit at the bottom of the G10 pile Tuesday as both respective

country's central banks tilted dovish overnight. Firstly, the RBA minutes

release disclosed that the central bank discussed rate cut scenarios at their

April meeting, although decided there was "not a strong case" for such a move.

This resulted in AUD weakness across the board, sending AUD/USD back toward the

100-dma support at $0.7138. Separately, RBNZ governor Orr reinforced the bank's

easing bias, adding that the NZD is trading in a "happy space". Nonetheless, NZD

took a leg lower, falling below the $0.6750 mark against the USD.

-Datapoints elsewhere have been few and far between, with the UK employment

report receiving little attention as the data came in broadly in line with

expectations. GBP trades relatively mixed ahead of the NY crossover. Germany's

ZEW survey was mixed, with current situation missing, but expectations beating

forecast.

-Attention turns to US industrial production, Canadian manufacturing sales and

speeches from ECB's Nowotny & Lane and Fed's Kaplan.