Trial now
USDCAD TECHS

Trend Needle Still Points North

WHITE HOUSE

Biden Losing Support On COVID-19 Strategy: Poll

AUDUSD TECHS

Slide Accelerates

LATAM

Snapshot: USDMXN Set To Post Highest 2021 Close

EURJPY TECHS

Still Looking For Weakness

USDJPY TECHS

Shows Below 50-Day EMA

AUSSIE BONDS
AUSSIE BONDS: Coronavirus related headlines drove some flow, but that has been
covered elsewhere, so we will cover local developments here. Aussie bond futures
ticked lower on the release of local CPI data, which topped market consensus &
prompted the trimming of RBA easing bets. Headline Y/Y CPI was marginally short
of RBA exp., but topped consensus, while the trimmed mean metric met RBA exp,
although both remain shy of the RBA's inflation target band. Food (drought
related), fuel & tobacco (tax) were the driving factors for headline inflation.
- Cash markets had to play catch up to the about face turn seen in risk
sentiment during Tuesday's European & U.S. sessions.
- Space edged away from late session lows ahead of the close.
- IBs now price a mere ~10% chance of a rate cut at next week's RBA meeting,
with the likes of J.P.Morgan & RBC pushing back their calls for RBA cuts in the
wake of today's data.
- Also worth flagging that a Moody's research piece noted that climate-related
risks pose a long-term credit challenge for NSW.
- Terms of trade data headlines Thursday's local docket.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com