FOREX: Steady G10 FX Trends, RBNZ Soon

G10 FX trends have been relatively steady to start Wednesday trade. The USD BBDXY index was last 1289.8, close to end Tuesday levels from the US session. 

• USD/JPY got to lows of 151.83, but sits slightly higher now in latest dealings (in the 151.90/95 region). We had trade figures out a little while ago, which were mixed. Imports surged in a positive sign for domestic demand, although this clearly hurt the trade deficit. The import surge may also reflect adjustments to aid sentiment in the US around tariff penalties (i.e. raising purchases of US goods).
• AUD/USD holds close to 0.6350, largely ignoring the wages data from a short while ago (it printed close to expectations). RBA Governor Bullock noted yesterday the strength/resilience of the labor market is a key watch point for the central bank in terms of future easing risks. 
• NZD/USD is holding above 0.5700 at this stage, with the RBNZ decision due shortly. The central bank is expected to cut 50bps, but its guidance will be eyed. The AUD/NZD cross sits off post RBNZ highs, last near 1.1130/35 (Tuesday highs were at 1.1145). 
• In the cross asset space, US equity futures are a touch higher, while US yields are little changed in the first part of dealing.
• Note in addition to the RBNZ we also have BoJ speech from Takata, along with China Jan home prices.