Looking Offshore For Direction

Curve a touch steeper vs. closing levels given the impetus in U.S. Tsys during Tuesday trade, driven by positive mood music re: Brexit and some support seemingly gathering behind a slimmed down fiscal support package in DC (the sounds from the GOP leadership have been on the positive side, with a bi-partisan leadership meeting on the Hill set to reconvene later this evening). YM +0.1, XM -1.3.

• Australia's flash manufacturing PMI readings show a continued uptick in the rate of expansion for both the manufacturing and services metrics, with the release noting that "not only was the Australian economic recovery sustained in December, but growth also gathered momentum as the loosening of COVID-19 restrictions underpinned further improvements in demand for goods and services. As such, private sector output expanded at the quickest pace in five months. The preliminary PMI results also brought good news regarding employment."
• The Westpac leading index will hit later today, with participants also on the lookout for an announcement re: the release date of the MYEFO (most look for the release to hit on Thursday).