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Commodity-Tied FX Lead Gains In Muted Trade

FOREX

The kiwi dollar is pacing gains in commodity-tied FX space in a muted start to the Asia-Pac session, despite steady oil prices and the absence of notable headlines.

  • The greenback has slipped against its major peers, which comes on the heels of its outperformance on Monday.
  • The RBA will deliver its monetary policy decision later today. We have a slight bias towards a 15bp cash rate target hike at this meeting, while conceding that this is a close call.
  • Later in the day, focus will turn to U.S. factory orders & final durable goods orders, EZ jobs data as well as comments from BoC's Rogers.
  • Reminder that several major financial centres (China, Japan, Singapore) are shut in observance of respective public holidays.
Energy BulletsCommodities
Energy BulletsCommodities

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