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The Antipodean currencies found themselves....>

FOREX
FOREX: The Antipodean currencies found themselves on the back foot after the
publication of a bleak labour market report out of Australia. The unemployment
rate ticked higher, on the back of shrinking employment and participation, while
higher underemployment & underutilisation accompanied by negative revisions to
prior employment readings completed the gloomy picture. Understandably, AUD has
born the brunt of resulting pain, with NZD partially recovering since. RBNZ Dep
Gov Bascand offered little new in his latest comments, hence the muted reaction.
- Elsewhere, participants continue to weigh duelling signals re: U.S.-China
trade relations. Yesterday's WSJ source report pointing to a deadlock over farm
purchases was downplayed by White House adviser Navarro as "rumours."
- Onshore KRW trading opened with an hour delay due to college entrance exams in
South Korea. USD/KRW opened higher, but has trimmed gains thereafter.
- The focus turns to Chinese monthly activity indicators, flash German & EZ
GDPs, Swedish unemployment, UK retail sales and U.S. PPI. The central bank
speakers' docket is very densely packed, we will hear from Fed, ECB & Riksbank
members, including Fed Chair Powell.

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