NZD Offered As RBNZ Officials See Case For Providing Stimulus

NZD has gone offered as participants assessed the latest comments from RBNZ Asst Gov Hawkesby & Chief Economist Ha, who talked up the impact of lower interest rates. Hawkesby noted that inflation and employment are expected to remain below targets for the next 2-3 years, which is "a very clear signal in terms of our dual mandate to be providing stimulus", while Ha reiterated the central bank's preference for being aggressive rather than doing too little too late.

• Little to rock the boat elsewhere, with upticks in the three main e-mini contracts applying some pressure to JPY & USD. AUD also struggles, tracking losses in its Antipodean cousin.
• USD/KRW dipped to a fresh multi-month low early on, as a beat in Samsung's operating profit for Q3 amplified the impact of a delayed reaction to yesterday's risk-on flows.
• Looking ahead, U.S. Vice-Presidential Debate gets underway at the top of the hour. On the data front, focus moves to U.S. initial jobless claims and Canadian housing starts. Central bank speaker list features Fed's George, Rosengren & Bostic, BoC's Macklem, BoE's Bailey and ECB's de Guindos, de Cos, Schnabel & Mersch, while the ECB will publish its Aug MonPol meeting minutes.