The release of soft NZ labour mkt data........>

FOREX: The release of soft NZ labour mkt data during the NY/Asia crossover has

weighed on the kiwi, which has stuck to the bottom of the G10 currency table.

AUD has also struggled, as kiwi weakness spilled over to a degree. NZ

unemployment rose to 4.3% from 4.0% vs. a 4.1% forecast (reversing most of Q3's

larger than exp. fall in the process), while the participation rate edged lower,

and wage growth remained limited. 

- CAD has been relatively weak, as WTI ebbs back below $54. 

- JPY has outperformed amidst modest risk-off flows, with the Nikkei 225 trading

~0.9% lower at writing. 

- Fed Chair Powell spoke, but avoided policy references, noting that the U.S.

economy is in a good place. 

- Focus today turns to German industrial output, U.S. jobless claims, 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. Also worth noting that the ECB will publish

its econ bulletin, while the EU Commission will release its econ forecasts.