I still like NZD/CAD for its longer-term, bullish inflection point potential. RBNZ and BOC meetings this week. I still think RBNZ may have the hawkish edge - and if oil prices do pull back, it's another bullish clue for the cross.

Slightly more hawkish cash rate curve compared to Friday, following RBA Hunter's comments on Sunday

Oil & Forex Outlook: Brent’s $5 Gap Lower, USD/JPY Under Pressure youtu.be/CZyEjHCnOAA?si=XqmW…

EUR/USD is defiantly holding support despite surge of record short bets US Dollar Bulls Hold Firm, but Euro Warns of Squeeze Risk | COT Report forex.com/en-us/news-and-ana…

60-minutes: Has the RBA done enough after 4 hikes? RBA Hunter: "Unfortunately, not quite yet." Another hawkish signal from the RBA, despite rising unemployment and weakening business sentiment. All eyes now turn to Wednesday's Q3 CPI, which could tip the balance towards a fifth hike in November.

Australian Dollar Outlook: AUD/USD Screams Sentiment Extreme Into Fed, CPI forex.com/en-us/news-and-ana…

Australian Dollar Holds Support Despite Record Bearish Bets youtu.be/Nijzp-cpwq0?si=LwAI…

Japan's core inflation (ex fresh food) hit estimates of 2.1% y/y, marking its first print above 2% this year. The BOJ is expected to hold next week after hiking in September, but a weak yen and rising import costs add to inflation risks, keeping the door open for further tightening.

Marathon Fusion - a San Francisco-based startup, claims to have turned mercury into gold! As cool as that is, gold's scarcity is hardly under threat just yet. A future fusion plant could theoretically produce ~2 tonnes annually, equivalent to just 0.05% of global annual gold mine production.

Rising energy costs continue to do its thing - with September's raw materials rising 27% y/y in Canada (crude component +55%), producer prices up 14.5% (petroleum 64%). This reinforces the existing hawkish outlook rather than establishing a new policy shift - with expectations for a BOC hike next week ~80%.

Implied volatility is perking up for the yen as bulls relinquish control during risk-off trade. After several false starts, USD/JPY may finally be topping out again. Japanese Yen Surges Across FX Majors as Risk Aversion Intensifies forex.com/en-us/news-and-ana…

Raw materials prices for Canada up in a few hours - should be a blast...

NZD/CAD is not my go-to. But given it can move 300-400 pips and is sitting at range lows ahead of RBNZ and BOC meetings next week - it has caught my attention. NZD/CAD Ponders Swing Low Ahead of BoC, RBNZ as Hike Bets Firm forex.com/en-us/news-and-ana…

Market-implied odds of an RBA hike in November have roughly doubled from 25% to 50% over the past 24 hours, following hawkish comments from the Reserve Ban of Australia (RBA). Deputy Governor Andrew Hauser warned that the inflation outlook was materially worse than previously forecast, citing elevated crude oil prices and echoing Governor Bullock's concerns that inflation expectations could become entrenched. While acknowledging weaker employment, Hauser stressed the difficult trade-off between controlling inflation and protecting the labour market. Goldman Sachs revised its RBA forecast from a hold to a 25bp hike in November following Hauser's hawkish comments on Wednesday, bringing it into line with ANZ and UBS. The RBA next meet on November 3 and December 8 before taking a break ahead of their Feb 9 meeting. AUD/USD Bears Denied a Big, Bearish Breakout via Hawkish RBA, Weak USD forex.com/en-us/news-and-ana…

Oops.

That's quite a set of inflationary figures from the UK. Let's get the party started.

Hmmm... well, I'll look forward to all that imported inflation hitting our shelves.

Timing was a little premature, but the still...