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China Data In Awaited

FOREX

A mixed start to proceedings so far with markets expected to be subdued ahead of the FOMC rate announcement later today.

  • AUD/USD is flat, ANZ consumer confidence rose 0.3% to 111.0 last week. Focus has shifted to RBA Governor Lowe's Thursday address titled "From Recovery to Expansion", following a more dovish RBA. Australia announced a FTA with the UK on Tuesday, Trade Min Tehan said Australia wants another FTA with Europe.
  • NZD/USD is a handful of pips higher, data earlier showed New Zealand's current account deficit widened more than expected to NZD 2.895bn, the C/A deficit rose to 2.2% from 0.8% previously. The RBNZ announced earlier it had added in debt serviceability restrictions to the list of potential tools available.
  • JPY is flat, data showed the trade deficit widened more than expected, exports rose below consensus while imports beat forecasts. Core machinery orders rose below consensus and a sharp drop in the pace of increase from last month.
  • Yuan is slightly stronger but hugging a narrow range so far. Markets await a raft of data from China later in the session including industrial production, retail sales, asset investment and the jobless rate.

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