CNY

• Positive sentiment. US and European equities higher with another night of no new news helping sentiment improve. This has weighed on the JPY.• Will it last? More macro/market aftershocks from the very aggressive hiking cycles are likely over coming months. US earnings expectations look too high.• RBA pause. AUD remains on the back foot. The step down in AU inflation has solidified the case for the RBA to hold steady at next weeks meeting. Another night of no new news on the banking front has helped sentiment continue to improve. Although the moves across the different markets have differed...

• Positive vibes. No new news on the banking front has supported risk sentiment. Bond yields have moved higher, with oil & base metal prices firmer.• Softer USD. Despite the upswing in US yields the USD has drifted lower. AUD & NZD have been boosted by the more positive risk appetite.• AU data pulse. Retail sales were sluggish. CPI indicator for February due today. A larger pull-back in annual growth could open the door to a RBA pause next week. Mixed fortunes across markets overnight, although there has been a relative sense of calm with no new news regarding the...

• Improved sentiment. Banking concerns have eased, at least temporarily. Equities a little higher, while a shift in expectations has pushed up bond yields.• Stable USD. Positive sentiment has weighed on the JPY, while stronger German data and hawkish ECB and BoE rhetoric boosted EUR and GBP.• AUD cross-check. AUD under pressure on the crosses. AU retail sales released today. The data will shape the RBA’s near-term interest rate thinking. Banking sector induced volatility continued overnight, although in a change from the recent trend sentiment was more positive with confidence about the resilience of the system improving. Reports that US...