Forex Today: Kiwi dumped despite solid NZ jobs, focus shifts to RBNZ
|Forex today was a mixed bag in Asia, as most majors failed to react to the recovery in risk-sentiment following yesterday’s global market rout. The Asian stock markets rebounded alongside the recovery in oil prices and Treasury yields while the popularity of the greenback somewhat faded.
Despite broad-based US dollar softness and risk-recovery, the Antipodeans failed to benefit, with the Kiwi emerging the biggest loser, as the bulls shrugged-off a big beat on the NZ employment data amid repositioning ahead of the RBNZ interest rate decision due later today. Meanwhile, the Yen picked-up strength across the board after the Nikkei 225 index pared gains towards the closing hours.
Main topics in Asia
EU wants right to curb UK single market access during transition - Reuters News
The European Union is seeking power to restrict Britain's access to the single market during a transition period.
White House: Trump, May "agree all responsible nations must increase pressure on N. Korea"
Reuters came out with the White House statement published earlier today, citing that the US President Trump spoke with Britain’s PM May and the two leaders "agree all responsible nations must increase pressure on North Korea" over its nuclear program.
BIS head: Bitcoin "freeloading" on institutional trust - FT
The head of the Bank for International Settlements Agustín Carstens spoke with the Financial Times and made several comments about his opinions on Bitcoin.
UK's Economy Propped Up by Stronger Global Growth - NIESR
A Bloomberg report quotes the National Institute of Economic and Social Research (NIESR) as saying that a better-than-expected global expansion and the resulting boost to trade helped push growth last year to 1.8 percent from the 1.2 percent it would have been without such an uplift.
Key Focus ahead
In the session ahead, the second-liner releases in the German industrial output figures and UK Halifax HPI data will keep the traders busy ahead of the ECB’s non-monetary policy meeting, in which the Brexit issue will remain on top of the agenda. The NA session also remains data-light, with the Canadian building permits numbers to be released ahead of the US EIA crude inventories report and FOMC member Dudley’s speech.
EUR/USD straining for a bullish continuation, 1.2500 still within grasp
EUR/USD has weakened in recent days, but buyers are fighting hard to make sure the pair doesn't spend much time below 1.2350.
GBP/USD - Off 3-week low, but not out of the woods yet
The demand for GBP puts (bearish bets) continues to rise despite Pound's recovery from the three-week low.
RBNZ to keep OCR at 1.75%, retain cautiously upbeat stance - ANZ
In the view of analysts at ANZ, the Reserve Bank of New Zealand (RBNZ) is expected to leave the Official Cash Rate (OCR) at 1.75% at its policy decision later on Wednesday.
Where is the Fight-to-Safety Upmove in Treasuries?
Ten Year YIELD peaked yesterday at 2.86% and then nosedived to 2.74% in reaction to the equity markets coming unhinged late yesterday.
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