The kiwi is weaker amid selling against the aussie

WCRS 11-12

Markets are keeping steady for the most part as US-China trade continues to cast a bit of a shadow in the broader scale while we deal with individual themes for the time being.

Reports overnight suggested that Trump is planning a delay to the 15 December tariffs but no firm decision has been made just yet, leaving markets a little paralysed still.

Meanwhile, the pound slumped after latest voting intentions highlighted a narrowing lead for Boris Johnson's Conservatives. That sparked some election jitters going into tomorrow with cable easing lower after having touched above 1.32 for the first time since March.

The kiwi has been trading a bit more mixed today after rising on the back of news of fiscal stimulus before running into offers against the aussie as AUD/NZD hit four-month lows just under 1.04 before coming back up.

AUD/NZD D1 11-12

Looking ahead, the known unknown for markets today is the Fed meeting. US futures and bond yields are keeping little changed for the time being and with one eye on the Fed, we may observe a more quiet session ahead - barring any surprise headlines.