Aussie 10-yr futures have drifted further off the Dec 11 high of 95.851. A stronger bearish theme would expose 95.275, the Nov 14 low and a key support. Clearance of this level would strengthen a bearish condition. For bulls, a confirmed reversal and a breach of 95.851, the Dec 11 high, would instead reinstate a bull cycle and refocus attention on resistance at 96.207, a Fibonacci retracement point.
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ACGBs (YM -2.0 & XM -3.5) are cheaper after a directionless NY session ahead of the December CPI report and the start of the earnings season today.
USD/CNH didn't deviate too far out of the 7.3400/7.3500 range post the Asia close on Tuesday. The pair tracks around 7.3450 in early Wednesday dealings (little net change was seen on Tuesday). Spot USD/CNY held above 7.3300, but sits slightly off recent highs. The CNY CFETS basket tracker was also little changed Tuesday, ending at 101.63 (per BBG).