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2s/10s steepest since


Background on Large 5Y Put Buy


E-MINI S&P (Z1): Watching The 50-Day EMA


Quick tech - At new intraday low


Extending Sell-Off

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Ranges expected to be tight today as markets tentatively await the latest US NFP data later in the day. AUD/USD is down 2 pips, markets digest the news that Victoria announced a 7-day COVID-driven lockdown yesterday. RBA's Lowe spoke and was optimistic on the economy but pointed to a difficult few months ahead. Markets await the release of the RBA's Statement of Monetary Policy.

  • NZD/USD is down 6 pips, still holding near the highest levels since early June as markets factor in more hawkish bets on the RBNZ. Looking ahead, next week's highlights include card spending (Tuesday), inflation expectations (Thursday) & BusinessNZ M'fing PMI (Friday).
  • USD/JPY is up 1 pip. Data showed labor and real cash earnings were weaker than expected, labor cash earnings falling 0.1% against expectations of a 1.1% rise. The main focus on the data front will likely fall on revised inflation data. Statistical authorities will unveil updated recent inflation figures, which have been recalculated using the newly reshuffled consumer-price basket.
  • Offshore yuan is flat, USD/CNH down 9 pips. The pair has stuck to a narrow trading range this week and has seen one-month CNH implied volatility slid for a sixth day on Thursday to intraday lows of 4.1125%. Markets await trade balance data over the weekend.