The session will be launched by an RBA speaker at 8:55 a.m. Sydney time (i.e. 9:55 p.m. GMT and 4:55 p.m. US Eastern Time on Monday 12 February).
A little later, more information on inflation will be provided by the Reserve Bank of New Zealand. The RBNZ is clearly concerned about persistent inflation, well above target:
So much so that ANZ is reading between the lines and announcing another 50 basis points of rate hikes:
If the RBNZ is concerned enough to raise rates again, which proves the ANZ right, I wonder about the broader market pricing implications for other central banks’ rate cuts. This is a dominant narrative at the moment and if it disappears there will be more than a shudder across bonds, stocks and currencies. Hopefully this is a local matter in New Zealand and will not have wider consequences. But luck is a fickle thing to rely on.
Anyway, back to today. China remains on vacation (and will be all week). Hong Kong markets are closed again today for a public holiday.
And continuing today, I suspect movements here in the region will be subdued as we await US CPI data later:
This snapshot of the ForexLive economic data calendar, access it here.
Times in the leftmost column are GMT.
The numbers in the rightmost column are the “previous” result (previous month/quarter as applicable). The number in the column next to it, where there is a number, is the expected consensus median.
News Source : www.forexlive.com