Bullock Takes Center Stage as Asia-Pacific Calendar Remains Quiet

RBA Governor Michele Bullock's speech is the lone highlight on the Asia-Pacific calendar today. Despite the quiet day, there are no local holidays to distract from the market.

Bullock's address will be closely watched as it comes at a time when investors are already focused on other developments in the region. The Chinese stock CXMT has made headlines after debuting with a gain of +450% yesterday, making it the most-valuable company in mainland China.

The AUD and NZD had a disappointing trading session on Monday, closing near their worst levels of the day. This was despite opening strongly on the possibility of peace in the Middle East, which slowly dwindled as oil prices fell. Brent crude dropped $9.17 to $87.61 in a significant rout.

The global market is also keeping an eye on developments in the US, with Wednesday's FOMC decision expected to have a strong reaction given the lack of guidance from Warsh.