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CHINA PRESS

China Faces Structural Inflation Risk: CBN

JGB TECHS

(M1) Attention is On The 50-DMA

AUSSIE 10-YEAR TECHS

(M1) Outlook Remains Bearish

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  • Speculation swirled ahead of a press conference from the UK's medicines regulator, which moved to restrict the distribution of the most widely used vaccine for those aged below 30. While the vaccine committee stressed that there was little risk to the overall vaccine plan, markets remain concerned that the switch could result in a delay to the planned easing of virus restrictions.
  • This dampened sentiment hit GBP, which fell against all others in G10, and extended the pullback from the midweek highs to over 150 pips. Next support for GBP/USD undercuts at the 100-dma at 1.3678.
  • Further demonstrating the risk-off theme were slips in antipodean currencies, with AUD and NZD falling alongside GBP. Similarly, the CHF and JPY were among the session's best performers.
  • Focus Thursday turns to Japanese trade balance and US weekly jobless claims data. Central bank speakers include Fed's Powell, Kashkari & Bullard.