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JGB TECHS

(U1) Tilted Higher

AUSSIE 10-YEAR TECHS

(U1) Uptrend Weakening

US TSYS SUMMARY

Bullard Kickstarts Reflation Unwind Theme

AUDUSD TECHS

Fresh 2021 Lows

AUSSIE-KIWI
AUSSIE-KIWI: AUD/NZD has traded in an ever-narrower range since the beginning of
the week. It currently sits at NZ$1.0340, 11 pips higher on the day, holding
near the recent multi-month lows. All eyes are on Australian Q4 CPI data, due
within a couple of minutes.
- Antipodean central bank decisions are approaching, with markets pricing a ~20%
chance of an interest-rate cut from the RBA, while putting the odds of a cut
from the RBNZ at ~7%. The RBA meet first and will deliver their MonPol decision
on Feb 4. Their colleagues from across the ditch meet on Feb 12.
- A jump above the Jan 27 peak at NZ$1.0357 would please bulls, bringing the
21-DMA at NZ$1.0382 into play. Bears need the Jan 27 multi-month low of
NZ$1.0308 to give way before they can target NZ$1.0265, the trough of Aug 6.