Global Themes

Aussie lower as commodities, bond yields fall
The AUD was lower again overnight as markets remained nervous across the globe.
Energy prices continued to drift lower as growing fears of an oil glut hit the price of crude. Oil gave up early gains to end near flat overnight.
In the US, bond yields continued to ease, with the local currency pressured by this negative outlook.
The AUDUSD fell 0.2%.

AUD weaker
The AUD was weaker in most other markets.
The euro was stronger as markets continued to look ahead to a potential end of stimulus from the European Central Bank. The AUDEUR fell to one-week lows.
The AUDGBP was steady despite Bank of England board member Kristen Forbes indicating that she also favours a rate hike sooner rather than later.
The AUDNZD fell to new four-month lows after the Reserve Bank of New Zealand sounded a more optimistic tone on the NZ economy.

PMI numbers
Today's focus will be on manufacturing PMI numbers across the globe.
The PMIs – which measure the plans and sentiment of purchasing managers – will provide updates on manufacturing activity in Japan, Europe and the US.
Canadian CPI numbers, which measures inflation, will be closely watched after strong recent gains for the Canadian currency.
By Steven Dooley -- Currency Strategist

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