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Pre-CPI Tension

FOREX

Safer currencies have caught a light bid in early Asia-Pac trade, with G10 currency pairs generally rangebound, as participants are cautious about taking risk before the release of U.S. CPI data later today. Risk barometer AUD/JPY has moved away from a fresh one-month high printed on Wednesday.

  • The PBOC set the USD/CNY reference rate at CNY6.3599, perfectly in line with the average estimate based on a Blomberg survey. Spot USD/CNH has inched higher, but still trades comfortably within the confines of Wednesday's range.
  • While U.S. CPI is set to steal the limelight, other notable data releases include U.S. weekly jobless claims & Norwegian CPI. The Riksbank will deliver its monetary policy decision, while comments are due from ECB's Villeroy, Lane & de Guindos as well as BoE's Bailey.
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