(08 NOVEMBER 2017)DAILY MARKET BRIEF 1:NZD: RBNZ to keep OCR unchanged

Since the beginning of the week, G10 currencies were range bound. The lack of major news, both on the political and monetary policy sides, has caused a collapsed of volatility levels. The CVIX (Currency Volatility Index) eased to 6.87%, the lowest level since September 2014. The 3m implied volatility in EUR/USD fell to 4.14%, while the one on USD/JPY eased to 7.92%. The FX market will likely remain flat-lined this week as investors await news about Trump’s Tax plan and developments about the Brexit negotiations.