Trial now

Needle Still Points South


Yields Bounce as Equities Make New Monthly Highs


Heading North


Bull Rally Accelerates


Economists Survey Raises 2021 CPI Forecast To 4.9%

FOREX: AUDUSD moved to session lows on the back of a soft Aussie labour market
report & as the prior report was revised lower, hitting a low of 0.7764, before
sharply reversing to last deal at ~0.7790, with little in the way of fundamental
headlines since the release, although iron ore & copper prices are higher.
- NZD popped higher on the back of the slightly better than exp. New Zealand CPI
print. Earlier on RBNZ Gov. Orr noted that the RBNZ "expects very benign
inflation going forwards." Orr went on to say that "what really matters is the
confidence and expectation and belief that we are aiming for that midpoint of 2%
all the time." After easing back to session lows NZDUSD last trades relatively
unchanged at 0.7325.
- JPY crosses have moved higher as equities ticked up & the Trump-Abe summit
delivered a warmer tone re: trade, although both leaders are seemingly sticking
to their original stances. USDHKD cross saw a degree of profit taking as the
HKMA tried to instil a sense of calm. EURUSD stuck a tight range with a notable
amount of FX option expiries in play between 1.2300 & 1.2400.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |