US PREVIEW: US Weekly Macro Data / Fed Speakers Calendar
In the upcoming holiday-shortened week, we get the minutes to the January Fed meeting which while st...
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ASIA: Coming Up In Asian Markets On Thursday
| 0300BST | 1100HKT | 1400AEDT | Indonesia Nov External Debt |
| BoK Rate Decision | |||
| Philippines Nov Overseas Remittances | |||
| India Dec Unemployment Rate |
Source: Bloomberg Finance L.P./MNI
NZD: NZD/USD - Trades Sideways, Bears Looking For Momentum To Test 0.5700
The NZD/USD had a range overnight of 0.5737 - 0.5756, Asia is trading around {NZD Curncy}. The NZD traded sideways overnight as US stocks ended the session lower but the USD pulled back strongly against the JPY and KRW in particular as verbal jaw-boning increases. The NZD has put in what looks like a top around 0.5850 and while this continues to cap I suspect the short-term could see bounces initially faded. On the day, the NZD bears will be feeling a little more comfortable, watching for sellers again back toward 0.5760-0.5780 as the shorts look for some momentum to build for a retest of the 0.5700 area.
- CFTC Data of last week shows Asset Managers slightly increasing their short positions in the NZD, -40649(Last -37981). The Leveraged community reduced their own shorts that they had just begun to build quite aggressively, -10605(Last -14480).
- Options : Closest significant option expiries for NY cut, based on DTCC data: none. Upcoming Close Strikes : 0.5600(NZD351m Jan 16), 0.5800(NZD420m Jan 16), 0.5895(NZD300m Jan 19} - BBG
- The NZD/USD Average True Range for the last 10 Trading days: 39 Points
Fig 1: NZD/USD Spot Daily Chart
Source: MNI - Market News/Bloomberg Finance L.P
ASIA: Coming Up In Asia Pac Markets On Thursday
| 2350BST | 0750HKT | 1050AEDT | Japan Dec PPI |
| 0000BST | 0800HKT | 1100AEDT | Australia Jan Consumer Inflation Expectation |
| 0001BST | 0801HKT | 1101AEDT | UK RICS House Price Balance |
| 0135BST | 0935HKT | 1235AEDT | New Zealand 2030, 2035, Bond Sale 2050 Linker Bond |
| BoK Rate Decision |
Source: Bloomberg Finance L.P./MNI
