AUD Lags G10 Peers Ahead Of RBA Minutes Release

AUD leads losses in the G10 basket in the lead-up to the release of minutes from the most recent monetary policy meeting at 65 Martyn Place, which saw policymakers flag the possibility of deploying "further monetary measures". A couple of RBA analysis pieces have received some broader airing ahead of the release. An AFR piece from over the weekend pointed to the possibility of "more direct form of loosening monetary policy", such as a combination of bond purchases further along the yield curve and a lower cash rate, while Westpac opined that Gov Lowe & co. have reasons to be patient with adding stimulus.

• All in all, price action across G10 FX space has been rather lacklustre, with some very light risk-off flows emerging as e-minis turned red. Little to rock the boat seen on the news wires thus far.
• USD/CNH has had a look through yesterday's multi-month lows ahead of the imminent publication of Chinese monthly economic activity indicators.
• With China's data dump providing the highlight of the Asia-Pac session, focus later in the day will move to UK labour market data, German ZEW Survey, final French and Italian CPIs, Swedish unemployment, Norwegian trade balance, U.S. industrial output & Empire M'fing, as well as coments from ECB's Panetta.