BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

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US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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NZDUSD Tests New Lows Before Stabilizing

NZD

NZD is the best performing of the G10 currencies today, largely driven by a technical move, after initially making new yearly lows at 0.6050, we have bounced off those levels to trade back around Friday close of 0.6070.

  • NZDUSD is up 0.10%, off intraday and new yearly lows of 0.6050. New lows were tested after Fed Pres Powell did interview on 60 minutes, where he mentioned that there needs to be more disinflation evidence to cut rates. The CBS reporter stated that Powell suggested a mid-year cut, but this wasn't in the transcript of the interview.
  • AUDNZD is down 0.21% to 1.0716. 1.070 is the level to watch, as a break below here could signal a further move lower, however we have seen multiple attempts to break this level so far this year to no avail.
  • Data this week: Employment data on Wednesday
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