Soft NZ labour mkt data released in the.......>

FOREX: Soft NZ labour mkt data released in the NY/Asia crossover sent kiwi to

the bottom of the G10 currency table. NZD weakness initially spilled over into

AUD (albeit to a limited degree). NZ unemployment rose to 4.3% from 4.0% vs.

exp. of 4.1% (reversing most of Q3's larger than exp. fall in the process),

while the participation rate edged lower & wage growth remained limited. 

- CAD struggled overnight, as WTI held below $54/barrel (excl. a brief look

above in early trade), with USD/CAD jumping above its 100- and 21-DMA. 

- JPY showed some modest strength on the back of underperforming Japanese

equities, but this faded away in the Tokyo afternoon. 

- While avoiding policy references, Fed Chair Powell said that the U.S. economy

is "in a good place." 

- Focus today turns to German industrial output, U.S. jobless claims, ECB's econ

bulletin, EU Commission's econ forecasts, as well as the BoE MonPol decision,

meeting minutes & inflation report, to be followed up by a press conference with

BoE Gov. Carney. Elsewhere, Fed's Kaplan & Clarida, as well as ECB's Mersch will

speak, while UK PM May will meet with EU leaders in Brussels.