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Market Brief
The Fed can announce finding nowadays amid 2 day policy meeting. released yesterday, the surprising contraction folks consumer goods orders revived the expectations for balanced-to-dovish Fed statement nowadays. whereas we have a tendency to don't expect important shift out of the FOMC meeting, there's clearly no rush to the exit given the ultra-expansive financial policies abroad. Overnight, the US dollar listed higher bid against the bulk of G10 currencies, except antipodeans. As financial Authority of Singapore (MAS) unexpectedly reduced the slope of the currency band (perceived as a form of financial easing), pressures on AUD and NZD reversed.

AUD/USD rebounded from 0.7901 to 0.8025 on MAS surprise action, despite slower-than-expected CPI read (0.2% q/q vs. 0.3% exp. & 0.5% last, 1.7% y/y vs. 1.8% exp. & 2.3% last). The negative bias remains in AUD because the expansionist trend across G10 and EM central banks keeps RBA doves alert before february 3rd policy meeting. whereas the sustained core inflation keeps agreement money rate at unchanged 2.5%. Resistance is seen at 0.8075/0.8104 (optionality / 21-dma).

Better bid in Asia, the NZD/USD remains offered pre-0.7500. The pacifistic RBNZ expectations area unit largely priced in, nonetheless the negative pressures on the choice markets ought to continue advisement on the Kiwi to counter any relief rally. decent vanilla puts area unit placed at 0.7400/0.7450/0.7500 to 0.7575.

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