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Antipodeans Benefit From Bounce From Lows In E-Minis

FOREX

AUD & NZD find themselves at the head of the G10 FX performance table, with e-minis recovering from the initial Asia-Pac downtick to sit little changed to a touch firmer as NY filters in.

  • A reminder that RBNZ chief economist Conway will speak early Tuesday local time (20:00 London/15:00 NY on Monday). He will discuss “how significant changes to the global economy since the COVID-19 pandemic have created new uncertainties and challenges for monetary policy. High quality research and data will be needed to understand these changes.”
  • Ahead of the speech RBNZ-dated OIS shows ~88bp of cuts for ’24, with the first 25bp move a little more than fully discounted come the end of the July ’24 RBNZ decision.
  • The weekly Australian docket is headlined by Wednesday’s Q4 CPI release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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