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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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Note that in the wake of the release of the firmer than expected Q2 GDP data from New Zealand earlier today OIS markets are now pricing ~36p of tightening come the end of the RBNZ's October '21 meeting (which equates to a ~44% chance of a 50bp hike) vs. 27bp of tightening priced as of yesterday.

  • Looking further out, the OIS strip is pricing in ~63bp of tightening come the end of the Bank's Nov '21 meeting and ~137bp of tightening come the end of its August '22 meeting vs. the respective pricing of ~53bp & ~120bp at the end of yesterday's trading session.