FX News

Wednesday 27/10
1:30pm, AUD, CPI q/q
Forecast 0.80%
Previous 0.80%
1:30pm, AUD, Trimmed Mean CPI q/q
Forecast 0.50%
Previous 0.50%

Thursday 28/10
3am, CAD, BOC Monetary Policy Report
3am, CAD, BOC Rate Statement
4am, CAD, BOC Press Conference
Tentative, JPY, BOJ Outlook Report Read more

Key Points:

• Worldwide coronavirus cases surpass 241.814 million with over 4.919 million official
deaths.
• New Zealand has 652 active cases of coronavirus with 65 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 273 new cases and 4 deaths yesterday with Victoria reporting 1749 new cases with 11 deaths
• Nasdaq moves to a new high of 15021 based on new Apple product launches
• Chinese CPI y/y third quarter comes in at 4.9% from 5.0% forecast
• US Treasury Secretary Yellen is to extend the incredible US debt management through to December after a small increase in the borrowing cap was announced last week
• Crude Oil continues to climb to 82.40 per barrel this morning as demand and shortages continue which could stoke inflationary pressures Read more

Monday
2:05am, GBP, BOE Gov Bailey Speaks
10:45am, NZD, CPI qq
Previous 1.50%
3pm, CNY, GDP q/y
Previous 5.00%

Tuesday
1:30pm, AUD, Monetary Policy Meeting Minutes

Wednesday
7pm, GBP, CPI y/y
Previous 3.20% Read more

• Worldwide coronavirus cases surpass 240.247 million with over 4.894 million official deaths.

• New Zealand has 617 active cases of coronavirus with 72 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 406 new cases and 6 deaths yesterday with Victoria reporting 2297 new cases with 11 deaths
• Fed’s Harker is not expecting any rate hikes until late 2022 early 2023
• The New Zealand Dollar (NZD) is the strongest of the main currencies moving up 1.1%  
• US Inflation y/y rises to 5.4% from 5.3% and appears NOT transitory
• Crude Oil continues to climb to 81.40 per barrel this morning as demand and shortages continue which could stoke inflationary pressures
• ECB’s lagarde says upswing in the Eurozone inflation is driven by temporary elements
• The Peoples Bank of China Governor Yi Gang says Central Bank policy will be “prudent, flexible, targeted, reasonable and appropriate” as their inflation grows to 10.7% y/y the highest level in 25 years

Market Overview

Key Points:

• Worldwide coronavirus cases surpass 236.079 million with over 4.821 million official deaths.
• New Zealand has 342 active cases of coronavirus with 35 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 496 new cases and 8 deaths yesterday with Victoria reporting 1466 new cases with 8 deaths
• US Non-Farm Payroll reports for September came in at 194,000 compared to 500,000 consensus
• Comments from ex-Prime Minister Tony Abbot on Taiwan disappoint the Chinese Foreign Ministry
• The NZ Truckometer – a GDP indicator, surged in September representing increased traffic volume and improving recent supply chain bottlenecks
• Crude Oil breaks into the 80’s as demand and shortages continue
• Offshore Bond holders of Evergrande have not received interest payments and may not meet the Monday (US time) deadline sparking risk off market trading conditions Read more

Tuesday 12/10
All Day, CAD, Bank Holiday
All Day, USD, Bank Holiday

Thursday 14/10
1:30am, USD, CPI m/m
Forecast 0.30%
Previous 0.30%
1:30am, USD, Core CPI m/m
Forecast 0.20%
Previous 0.10%
7am, USD, FOMC Meeting Minutes
1:30pm, AUD, Employment Change
Forecast -135.0K
Previous -146.3K
1:30pm, AUD, Unemployment Rate
Forecast 4.80%
Previous 4.50% Read more

Key Points:

• Worldwide coronavirus cases surpass 236.079 million with over 4.821 million official deaths.

• New Zealand has 376 active cases of coronavirus with 31 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 594 new cases and 10 deaths yesterday with Victoria reporting 1838 new cases with 5 deaths
• The RBNZ hikes its cash rate to 0.50% from 0.25%
• Japanese premier calls for capital gains tax to rise from 20% to 25% 
• Goldman Sachs predicts 600k headline for NFP result, much higher than forecast  
• Crude Oil settles at 78.30 per barrel
• Evergrande may continue to affect market sentiment as the “real” off balance sheet debt of the Chinese company is exposed.
• Fed’s Mester sees US inflation driven by supply and demand factors due to coronavirus which may not see inflation rising further

Market Overview

Key Points:
• Worldwide coronavirus cases surpass 236.079 million with over 4.821 million official deaths.
• New Zealand has 287 active cases of coronavirus with 29 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 623 new cases and 6 deaths yesterday with Victoria reporting 1377 new cases with 4 deaths
• Hikes are on the way for the RBNZ starting tomorrow but analysts remain cautious
• WTI Crude up over 77.60 a barrel
• Chinese electricity outages causes mass supply chain issues, coal reserves have become dangerously low
• Evergrande sank the Hang Seng Index by over 2.0% overnight as repayment worries continue
• Core US inflation is not predicted to drop to their target 2.0% over the following couple of years with 2.8% forecast in 2022 with rises in export prices forecast Read more

Sunday 03/10
5am, AUD, Daylight Time Shift

Monday 04/10
All Day, AUD, Bank Holiday
All Day, CNY Bank Holiday
All Day, All, OPEC Meetings
All Day, All, OPEC-JMMC Meetings

Tuesday 05/10
All Day, CNY, Bank Holiday
4:30pm, AUD, RBA Rate Statement

Wednesday 06/10
3am, USD, ISM Services PMI
Forecast 59.9
Previous 61.7
All Day, CNY, Bank Holiday
2pm, NZD, Official Cash Rate
Forecast 0.50%
Previous 0.25%
2pm, NZD, RBNZ Rate Statement Read more

Key Points:

Worldwide coronavirus cases surpass 234.463 million with over 4.794 million official deaths.
New Zealand has 272 active cases of coronavirus with 19 new cases yesterday. Meanwhile, the Australian State of New South Wales reported 941 new cases and 6 deaths yesterday with Victoria reporting 1438 new cases with 5 deaths
ANZ Consumer Confidence Index – September 104 vs 109 prior
WTI Crude up over 75.00 a barrel
Supply worries in the US are driving up inflation says Fed member Evans
Evergrande have made 10% repayments to investors fulfilling the first part of their repayment plan
New Zealand Building Permits for August up 3.8% beating estimates of 2.3% as 4,490 new homes are consented
362,000 was the number of individuals who filed for unemployment last week compared to 333,000 predicted, the highest read since early August