- Currency markets remained within tight ranges due to a lack of top-tier news or headlines. Tomorrow’s ECB meeting is also suppressing volatility.
- Reuters report that BOJ could be considering further easing, via an unnamed source at their upcoming meeting at 18-19 September.
- RBA said they’re unlikely to implement unconventional policy measure’s (QE) but will consider them if necessary.
- AUD and NZD are the strongest majors, JPY is the weakest during a cautiously risk-on session. AUD/JP broke its bearish trendline from the April high, USD/JPY moved to a 7-week high. EUR/USD remains around 1.1050 ahead of tomorrow’s ECB meeting.
- National Australia bank revised their forecast for RBA to cut 50 bps by February 2020 (up from one cut).
- Australian consumer’s looked past rising house prices and turned pessimistic, according to a Westpac survey. Compared to a year ago, sentiment is down by -2.3%. Current conditions also fell by -2.7% in September.
- Tom Watson, Labour’s deputy leader is to demand a Brexit referendum before the election.
Up Next:
- No first-tier data throughout the European or US session could make for another quiet session.
- Producer prices are expected to stay flat at 0% in August, although PPI excluding energy is forecast to expand by 0.2% from -0.1% prior. Yet with both headline annual reads having topped late 2018, downside pressures persist.
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December 12, 2024 10:49 PM