The US$ is mixed ahead of the FOMC rate hike and new growth forecasts on Wednesday, with Cable trading weak in the follow-through of last week’s EU/UK Brexit deal, while the Kiwi is the strongest currency of the day after the announcement of the new Governor of the RBNZ, Adrian Orr. In other markets, US stocks are firm, as is WTI which reversing earlier declines, after a North Sea pipeline shut for repairs. The metals are rangebound but trading with a slightly heavy bias.
Tuesday kicks off with the NAB Business Conditions/Confidence, the Q3 Australian House Price Index, October New Home Sales and the China Foreign Direct Investment figure for November, which could all combine for a rather active day for the Aud$. Europe will follow up with the German/EU ZEW Economic Sentiment Survey and the UK CPI (exp 0.2% mm, 3.1% yy), PPI & RPI and then from the US we get the US November PPI (exp 0.4% mm, 2.4% yy), US NFIB Business Optimism Index and the Monthly Budget Statement. Oil traders should look out for the API Weekly Crude Oil Stock Inventory.
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