Free Trial

Antipodeans Lead Gains, Yen Falters


The Antipodean currencies caught a bid, as the choir of RBA hawks grew further, while NZGB yields rallied on re-open after a local holiday. Ex-RBA board member Edwards told the WSJ that the Reserve Bank could raise the cash rate four times this year, while CBA & ANZ flagged hawkish risks to their central RBA scenarios.

  • Broader recovery in risk appetite lent additional support to the Antipodeans, with an FT source report helping calm the nerves frayed by the Russia geopolitical tension. French officials told the newspaper that Russian President Putin appeared to be moving towards de-escalating the Ukraine crisis during his talks with President Macron.
  • Oil-tied CAD and NOK failed to benefit from risk-on flows as crude oil futures slipped. They still outperformed the yen, which landed at the bottom of the G10 pile amid reduced demand for Asia's main safe haven currency.
  • The PBOC fixed its central USD/CNY reference level just 14 pips above broader expectations, offering some stabilisation after showing a considerable upside bias yesterday. Offshore yuan was rangebound.
  • U.S. trade balance headlines today's light data docked, while comments are due from ECB's Villeroy & de Cos.

To read the full story


MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.