North Korea tests H-Bomb and will ECB disappoint on Thursday
All eyes are on the ECB this week after the market has been aggressively buying the Euro in the expectation of a reduction in the asset purchasing program. Headlines from late last week suggest that Mario Draghi may well disappoint on Thursday and for any normalisation to be pushed to December. The RBA meet tomorrow and while no movement is expected any reference to the future policy direction will be closely scrutinised. We would also not be surprised to see the statement attempt to jaw bone the AUD lower. Outside of the Central Banks, North Korea remains a market mover with the Yen receiving a big bid this morning on the hydrogen bomb test.
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