The Antipodeans have travelled all the way....>

FOREX: The Antipodeans have travelled all the way from the top to the bottom of

the G10 pile, where they sit at writing. The release of stronger than exp.

Australian labour market data put a bid into AUD. That was before Westpac

revised its RBA rate call, with the bank now looking for the RBA to cut the cash

rate by 25bps in both August and November of this year. This weighed on AUD, and

pushed AUD/NZD back to unchanged levels.

- JPY sits atop the G10 pile, even after the Japanese Nikkei m'fing PMI moved

into contractionary territory.

- Sterling has felt some pressure on the back of comments from UK Home Sec

Javid, who told ITV that he doesn't think taking a no-deal Brexit off the table

is possible. His comments came after 15 UK ministers reportedly threatened to

vote against PM May's Brexit policies, if she refuses to rule out no-deal.

- Focus today turns to global PMI figures, German CPI and ECB's Jan meeting

minutes. The speakers' slate includes ECB's Praet (twice), Fed's Bostic, BoC Gov

Poloz.