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Mostly Firmer, 10-Year Supply Eyed


Peso Weakens Amid Assessment Of Omicron Risk


China Developers' Bond Sales Rise as Controls Ease: Yicai

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Upbeat core CPI put a fresh bid into the AUD, which has cemented its status as the best G10 performer. Headline figure fell virtually in line with expectations but the trimmed mean print jumped to +2.1% Y/Y from +1.6% prior, putting the RBA's preferred underlying measure back above the lower boundary of its 2-3% target band for the first time since Q415.

  • AUD/USD trades +33 pips at $0.7534 after topping out at $0.7536. The rate has pierced yesterday's high, familiar key technical levels remain in play.
  • AUD/NZD has added 46 pips and sits at NZ$1.0518 at typing. Bulls need a breach of NZ$1.0612, which limited gains on Oct 12 & 13, to gain some fresh momentum. Conversely, a dip through the 50-DMA/Oct 22 low at NZ$1.0430/17 would please bears.
    • AU/NZ 2-Year swap spread has moved away from recent cycle lows and last stands at around -133bp.
  • AUD/JPY changes hands +38 pips at Y86.00, with bulls setting their sights on the recent cycle high of Y86.26. Meanwhile, bears look for a pullback under Oct 22 low of Y84.61.