FX News

FX Update for 2021-10-19: NZ CPI Release, A Concern

FX News

Key Points:

• Worldwide coronavirus cases surpass 241.814 million with over 4.919 million official
• 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

Major Announcements last week:
US CPI m/m 0.20% meeting expectations taking the y/y to 5.4% from 5.3%
Australian Unemployment rises to 4.6% from 4.5%
US Retail Sales prints at 0.7% vs -0.2% expectations
US PPI prints 0.5% down from 0.6% expected in September

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