AUD staged an impressive 4.4% rally over the past 1mth as an expected reflation on the back of US GOP tax cuts put commodities (and commodity currencies) back in favor...
...led by NZD, AUD and CAD.
EM (Strate)gist gets to the gist of Emerging Markets FX, Bonds, Economics, Politics and Global Macro.
Economic and inflation surprises improved during December. Citi Economic Surprised moved towards par while CPI surprise marginally moved less negative:
...Economic Surprise Index move less negative was helped by stronger-than-expected home loans, consumer confidence, labor data and private sector credit:
...Thought detracted last Friday by weak trade balance. This morning, we have building approvals where risks are to the downside. Retails are due this Thursday.