Themes

• General mood is “risk off”
• Most currencies quiet in Asia, AUD/USD lifted by a higher C.P.I. number
• Australian CPI prints at +1.3% from talk of +1.0%

What’s Moving

Forex markets were again quiet in Asia today after a lack of clear directional bias overnight and ahead of Wednesday’s US FOMC meeting, with very tight ranges and no range extensions seen on the majors.

The AUD/USD did rise slightly today on the higher-than-expected Australian CPI numbers, but the move was short-lived and AUD/USD then gave back those gains to be largely unchanged from the New York Close.

Tonight is expected to be another quiet one, with data seeing:

• German IFO (E: 94.6), and
• U.S. Richmond Fed Manufacturing Index (E: 14).

Tomorrow sees Australian markets closed for the Australia Day public holiday.