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New Zealand's CPI inflation eases to 3.7% YoY in Q3, vs 3.8% expected
New Zealand's third-quarter Consumer Price Index (CPI) came in a tenth under forecast on both the quarterly and the annual measure, and it took the Kiwi off its four-week high.
Indonesian Rupiah: Depreciation bias with MSCI risk – MUFG
MUFG’s Lloyd Chan highlights that MSCI reclassification risk could trigger a broader Indonesia risk-premium shock, weighing on the Rupiah and local assets.
New Zealand Consumer Price Index (QoQ) below forecasts (0.8%) in 3Q: Actual (0.7%)
New Zealand Consumer Price Index (QoQ) below forecasts (0.8%) in 3Q: Actual (0.7%)
New Zealand Consumer Price Index (YoY) below forecasts (3.8%) in 3Q: Actual (3.7%)
New Zealand Consumer Price Index (YoY) below forecasts (3.8%) in 3Q: Actual (3.7%)
South Korean Won: Losses risks building toward 1400 against US Dollar – TD Securities
TD Securities strategists argue that USD/KRW’s roughly 14% decline from its June peak leaves the pair at the bottom of its two-year range.
The New Zealand Dollar takes its winning streak into the inflation report
Stats NZ's third-quarter Consumer Price Index (CPI) comes at 21:45 GMT on Wednesday, with NZD/USD just under its 50-day average and the Reserve Bank of New Zealand (RBNZ) deciding on October 28. The pair trades just above 0.5700 after five straight daily gains, its highest since September 23.
Singapore Dollar: Range-bound upside bias holds against US Dollar – UOB
UOB strategists Quek Ser Leang and Lee Sue Ann note that USD/SGD slipped overnight as Asian currencies stayed resilient and the SGD NEER held well above its mid-point. Their short-term view sees the pair confined to a tight intraday range, while the 1–3 week outlook still favours mild Dollar weakness toward key support levels unless resistance is broken.
Indonesian Rupiah: BI on hold as MSCI risk weighs – BBH
Elias Haddad at Brown Brothers Harriman reports that Bank Indonesia left its policy rate unchanged at 5.75% for a fourth meeting, even as IDR weakened slightly following MSCI’s downgrade consultation. BI expects the current account deficit to widen by 2026, increasing external funding needs, though ample FX reserves are seen as cushioning further Indonesian Rupiah weakness.
Mexican Peso rout deepens as Iran tensions push USD/MXN toward 18.70
The Mexican Peso (MXN) weakened for the second straight day on Wednesday, down more than 1.49% against the US Dollar (USD), as the US-Iran conflict continues to underpin Oil prices and increases the chances that the Federal Reserve (Fed) might raise interest rates to control high inflation.
Colombian Peso: BanRep seen tightening further – Standard Chartered
Standard Chartered’s Dan Pan expects Banco de la República to deliver a final 25bps rate hike at the 30 October meeting, citing a positive output gap, high Oil prices and El Niño-related inflation risks.
Asia FX: Risk-off bias and safe havens – MUFG
MUFG’s Michael Wan notes stabilising global risk sentiment but highlights growing concerns over sustainability of the AI trade and its spillover to FX markets. He expects 2027 to be more challenging for risk assets, with Asia’s export growth rolling off. The bank currently prefers Asia Tech FX such as KRW, TWD and CNY, while favouring long positions in Dollar, JPY and CNH versus higher beta currencies.
Banxico seen holding at 6.50% through 2027 – Citi Mexico survey
Citigroup Mexico released its survey, in which most private economists shared their expectations for Mexico’s economy.
United States 20-Year Bond Auction climbed from previous 5.42% to 5.46%
United States 20-Year Bond Auction climbed from previous 5.42% to 5.46%