We have seen some pretty strong selling in RISK on the open this am…but we are not able to break prev lows.
AUD 1.0200 being watched and 1.3650 in EUR.
RM and Macro have been involved…
We have run into some light reserve demand for AUD$…and mkt reports similar in EUR…on the bounce to 1.3700
CE4 ccys have handled pressure well..HUF , PLN , ZAR , MZN all weathering the storm well so far.
TRY – CPI on the high side …but USDTRY comes lower afterwards 1.7960>15
All eyes on ECB.
Only 7bp priced in for today and mixed views in here. House call is for a cut but certainly strong calls for them to wait till Dec when the staff forecasts are in.
Draghi cutting in his 1st meeting might be asking for too much?
HSBC Global Research