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Schatz put fly


US 5s/30s makes another multi months low


Post-LIBOR Settle Update


CHF LIBOR FIX - 02-12-2021

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AUD/USD see-sawed Wednesday, as Australia's strong CPI report was weighed against a number of risk-off factors. The rate sold-off sharply into the London morning, but recouped losses thereafter, finishing the day in positive territory.

  • A reminder that our policy team ran a piece flagging their understanding that yesterday's CPI reading is unlikely to change the RBA's view on the timing of any future interest rate hike. Still, there have been a couple of notable sell side names that have rolled forward their cash rate hike calls.
  • RBA Dep Gov Debelle & Asst Gov Bullock will start testifying to lawmakers in short order. Looking further afield, Australian retail sales & PPI will hit the wires on Friday.
  • AUD/USD has slipped in early trade this morning and last trades -10 pips at $0.7506. Bears look for a fall through Oct 22 low of $0.7454 and a break here would open up the 100-DMA/Oct 18 low at $0.7390/79. Conversely, a jump above Oct 21 high of $0.7546 would shift focus to $0.7557, which represents the 50% retracement of the Feb - Aug sell-off.