AUD/NZD: mixed outlook in 1.1160 and 1.1280 range – Westpac Analysts at Westpac offered their outlook for the antipodeans and rates.
Key Quotes:
“AUD/NZD 1 day: Consolidating recent gains, following disappointing AU inflation data, between 1.1160 and 1.1280.
AUD/NZD 1-3 month: A resumption of the trend rise which started in June should test 1.13 contingent on AU economic data remaining supportive, commodity prices recovering, risk sentiment remaining elevated, and NZ politics weighing on the NZD. (25 Oct)
AU swap yields 1 day: The 3yr should open around 2.11%, the 10yr around 2.94%.
AU swap yields 1-3 month: Our RBA outlook (on hold throughout 2018) is anchoring short-maturity interest rates and should keep 3yr swap rates in a 1.80% to 2.30% range, as long as core inflation remains below 2%. Longer maturity rates will largely follow US rates. (4 Oct).
NZ swap yields 1 day: NZ 2yr swap rates should open unchanged at 2.17%, the 10yr up 1bp at 3.22%, in response to AU and US interes..Read More →

Forget stocks, cryptos, property and what have you, this company is sure to be the next hyper rally bubbleNissan Foods has created a noise-cancelling fork to mask the sound made by slurping down noodlesThe giant fork is 4.4cm wide and 15.2cm longIt has a microphone to detect offending slurpsWhen the slurp alert is triggered, the fork sends a signal to the user's mobile phone, which plays the soothing sound of flowing water to mask the noise.
Nissin will however only sell the gadget if it receives 5,000 pre-orders by mid-December – at the price of 14,800 yen (US$130)
With thanks for the South China Morning Post for the heads upRead More →

Here is the latest (this via Reuters): Disagreement over state and local income tax deduction “issue of concern” ahead of planned US house budget vote on Thursday -aide to house majority whip And, via Bloomberg:
Republican representative Peter King says there are enough lawmakers opposed to repealing state and local income tax deduction to sink budget resolution in US house There are plenty of remarks like this all over the place. I won't be posting them all but will keep an eye out for anything significant &/or from one of the big wigs in Washington (no offense, Mr. King).

—Last week the news the Senate had passed the budget resolution gave the USD a kick higher on tax reform hopes. But we were younger and more naive in those days.Read More →

Forex today: US dollar down 0.3%, risk-off hits higher betas, US yields/politics the driving forces The US dollar was 0.3% lower on Wednesday. US 10yr treasury yields initially rose from 2.42% to 2.47% – the highest in six months. Trump not decided on Fed chair yet. US duable goods and UK Q3 GDP data was strong. Higher betas take the brunt of the bear's domination. US stocks hit the skids on poor earnings reports. Forex today was fuelled by stronger than expected US data that drove US yields higher still, however …
The DXY shed 0.3% overnight, potentially on intra-Republican Party infighting, although there really wasn't a fundamental reason reported on the move, and strangely, the move came after a better than expected durable goods number, rising 2.2% in September and above the 1% expected, boosting the US GDP trackers. At the same time, US Treas. Sec. Mnuchin crossed the wires saying how excited he is with the progress on tax reform, a driver that is front and centre of..Read More →