Market Brief Yields Rise In Cautiously Optimistic Trade

Currency markets remained within tight ranges due to a lack of top-tier news or headlines. Tomorrow’s ECB meeting is also suppressing volatility.
Reuters report that BOJ could be considering further easing, via an unnamed source at their upcoming meeting at 18-19 September.
RBA said they’re unlikely to implement unconventional policy measure’s (QE) but will consider them if necessary.
AUD and NZD are the strongest majors, JPY is the weakest during a cautiously risk-on session. AUD/JP broke its bearish trendline from the April high, USD/JPY moved to a 7-week high. EUR/USD remains around 1.1050 ahead of tomorrow’s ECB meeting.
National Australia bank revised their forecast for RBA to cut 50 bps by February 2020 (up from one cut).
Australian consumer’s looked past rising house prices and turned pessimistic, according to a Westpac survey. Compared to a year ago, sentiment is down by -2.3%. Current conditions also fell by -2.7% in September.
Tom Watson, Labour’s deputy leader is to demand a Brexit referendum before the election.

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No first-tier data throughout the European or US session could make for another quiet session.
Producer prices are expected to stay flat at 0% in August, although PPI excluding energy is forecast to expand by 0.2% from -0.1% prior. Yet with both headline annual reads having topped late 2018, downside pressures persist.

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