AUD/USD – Aussie Dips as RBA Keeps Rates Unchanged

The Australian dollar is in negative territory following the RBA decision to pause rates at 3.60%. The US releases JOLTS Job Openings, which is expected to fall to 10.40 million, following a prior reading of 10.82 million.

NZD/USD – New Zealand Dollar in Holding Pattern ahead of Reserve Bank Decision

The New Zealand dollar is almost unchanged ahead of the Reserve Bank of New Zealand (RBNZ) rate decision on Wednesday (New Zealand time). The US releases JOLTS Job Openings.

Bitcoin's Intense Shake-Up

Bitcoin has been experiencing intense ups and downs this week but remains close to $28K. This dynamic is looks like a quarterly portfolio shakeout, and predicting the next local move is difficult.

Sunset Market Commentary

For USD trading, today’s session really marked some kind of interlude with mostly range trading between the established barriers. DXY hovers near the 102 big figure. EUR/USD tried a first ‘real’ attack on the 1.0930 resistance, but the test was rejected, even despite a constructive global risk sentiment (currently 1.089).

First Impressions: RBNZ Monetary Policy Review

The Reserve Bank surprised by raising the OCR by 50 basis points to 5.25% at today’s review, rather than the 25bp that most were expecting.

Equity Markets Turn Negative

Global equities lower yesterday, dragged down by US and partly Europe. Bear in mind the setback came after equities rallying in 7 out of the last 8 sessions. However, the interesting part yesterday was the sector rotation and cross asset performance.

Surprise 50bp Hike from RBNZ Pours Cold Water on Doves

The RBNZ decision poured some cold water on dovish Fed expectations today in Asia, as the inflows into the US treasuries also slowed, and reversed.

Markets Shown Asymmetric Reaction Function Since SVB Collapse

Markets have shown an asymmetric reaction function since the SVB collapse, with outsized moves on disappointing economic numbers. The strength of this week’s bond rally and the proximity of technical support levels might have a dampening impact in case of weaker figures though. EUR/USD could aim for a first test of 1.1033.

US Jobs Report Eyed as Weaker JOLTS Data Signal Slack Appearing in Labour Market

The JOLTS data yesterday could be the first signs of weakness in the US labour market and that is huge. Without it, the Fed will find it very hard to make the argument that it is pausing the tightening cycle. Now it needs to be backed up and the jobs report on Friday could start that process.

Ethereum's Overtaking

The cryptocurrency market has gained over 3% in the last 24 hours, reaching $1.21 trillion. Interestingly, Bitcoin has yet to keep pace with the overall crypto market growth, adding 2.3% to $28.55K over the same period. Ethereum, on the other hand, has risen by 5.5% to $1910.