Australia In Focus : Nothing Much To Say
Australia is so dependent on the world that I really do not have much to say about them at this point.
The China FTA letter of intent this morning is supportive as well as last Friday night’s strange reaction to a distant US’s Michigan consumer inflation expectations number.
That the currency should bounce in such fervour last Friday does not reassure me that the move is sustainable.
The AUDJPY is at a 1 year high. It is time to take a break especially with Abe tomorrow which usually goes by the “buy on rumour, sell of fact”.
Leaving you with the prices and more FX updates on the weekly FX piece coming out later.
AUD Bond Prices (indicative)