FX News

Up, Up and Away

Market Overview

Key Points:

  • Data out Monday has shown NZ jobs fell 0.3% in the month of February as Omicron case numbers exploded. Omicron uncertainty is expected to hampen growth over the coming months as employment will struggles to grow.
  • Australian Business confidence drops 5 points to 114
  • The US Treasury 5-30 year yield curve inverts for the first time since 2006
  • Russian and Ukraine officials are expected to hold talks in Turkey as Ukrainian military claims that Russian troops have withdrawn from the border of Kyiv after taking heavy losses
  • USD/JPY hits 125.00 just shy of the 125.80 decade high
  • Australian weekly consumer confidence falls to 91.1 from 91.2
  • The Australian Federal Budget is announced tonight at 7.30pm SYD time
  • Tesla has halted production in Shanghai due to staggered lockdowns
  • US President Biden’s comments about Putin cause warnings and could raise the stakes this week

Major Announcements last week:

  • UK CPI y/y 6.2%, forecast 6.0%
  • German Manufacturing PMI 55.0 vs 53.6
  • US Flash Manufacturing 58.5 vs 56.6
  • UK Retail Sales -0.3% in February vs 56.0 predicted
  • US Unemplyment Claims- 187,000 vs 210,000 expected
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