FOREX: Australian jobs report was ahead of forecasts and thus bolstered AUD,
even as breakdown data revealed some weaker spots. An unexp. rapid addition of
jobs brought the unemployment rate a touch lower, but was driven by part-time
employment & accompanied by -ve revisions. Quarterly NZ GDP beat projections
too, unleashing a brief round of NZD buying, but a decent downgrade of the prior
reading (to +0.1% Q/Q from +0.5%) prompted NZD to unwind the move. Worth putting
things in context: NZ has been outperforming Oz on the data front recently.
- Elsewhere, FX price action was lacklustre as we are nearing year-end. Safe
havens struggled for impetus, as the outcome of U.S. impeachment proceedings was
priced in. CAD slipped after y'day's rally, leaving the Scandies to inch higher.
JPY was unfazed as the BoJ stood pat on policy as expected.
- USD/KRW sold off as a 50-/200-DMA death cross appeared on the daily chart.
- The BoE, Norges Bank, Riksbank and Banxico are set to deliver their monetary
policy decisions, while we await a post-MonPol presser with BoJ Gov Kuroda.
Other highlights today include UK retail sales, U.S. Philly Fed Survey and
comments from ECB's Lane.