AUSSIE BONDS: AOFM Weekly Issuance Slate
Apr-06 02:04
The AOFM has released its weekly issuance slate:
- On Tuesday 11 April it plans to sell A$100mn of the 0.25% 21 November 2032 Indexed Bond.
- On Wednesday 12 April it plans to sell A$800mn of the 3.25% 21 April 2029 Bond.
- On Thursday 13 April it plans to sell A$1.0bn of the 9 June 2023 Note, A$1.0bn of the 25 August 2023 Note & A$500mn of the 8 September 2023 Note.
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NZD: Narrow Ranges Observed, RBA In Focus
Mar-07 01:47
NZD/USD prints at $0.6195/6200, a touch firmer than yesterday's closing levels.
- The pair has observed a narrow range in today's dealing, with little follow through on moves thus far.
- AUD/NZD is also observing narrow ranges, the pair last printed at $1.0855/65.
- Cross asset flows remain muted, e-minis are marginally firmer and US Treasury Yields are little changed across the curve.
- Trans-Tasman flows are in focus, with the RBA expected to raise the cash rate 25bps at today's meeting. The focus is likely to be on the tone of the statement and indications of how the RBA's economic forecasts may have evolved. AUD/NZD flows may come to the fore.
AUD: A$ Treading Water Ahead Of RBA Rate Announcement
Mar-07 01:45
AUDUSD is trading sideways ahead of the RBA announcement at 1430 AEDT. It is currently around 0.6733. The USD index is up 0.1% on the session.
- Aussie is flat against most of the major crosses with yen the exception. AUDJPY is up 0.2% to 91.63. AUDNZD is trading around 1.0860, AUDEUR 0.6305 and AUDGBP 0.5597.
- Equities are mixed during APAC trading with the ASX flat but the Nikkei up 0.5% and the CSI 300 down 0.1%. S&P e-minis are up 0.1%. Oil prices are slightly higher with Brent +0.4% to $86.50/bbl. Copper is down 0.3% and iron ore is higher at around $125.50/t.
- January trade data saw robust import growth while exports were driven by higher iron ore prices. The surplus narrowed slightly to $11.69bn from an upwardly-revised $12.985bn.
- Today the focus is on the RBA. Attention will be on the statement, as a 25bp hike is widely expected and almost fully priced in. See MNI RBA Preview - March 2023. Later Fed Chairman Powell’s appears before the Senate banking panel.
CNH: CNY Fixing - Slightly Firmer
Mar-07 01:20
The USD/CNY fixing printed at 6.9156, versus a Bloomberg consensus of 6.9174.
- Today's fixing was a -18pips surprise in USD/CNY terms. Yesterday's outcome was -8pips. Today's fixing error is slightly wider than recent history but not by a large margin.
- The 5-day rolling sum of the error term is slightly wider at -45pips.
- USD/CNH has been steady in the first part of trade, holding close to the 6.9500 level, little changed from NY closing levels. Coming up later today is China trade figures.
