First responders to the ECB earlier rate hike story ;-)

You'll have seen the news out overnight re the European Central Bank

• Some ECB members said to see end-2019 rate hike as too late - report

then follow-up

• More on the report on ECB members pushing back on expectations

The news hit at the end of the day for UK trade and with US markets out for the July 4 holiday

So I am awarding the first responder mantle to NZ and Australia analysts! (Yeah, I know, I am biased)

CBA:

• Bloomberg press is reporting that some unnamed European officials are uneasy that the current market pricing of interest is not pricing a 10bpts ECB deposit rate lift until the end of 2019. The pricing for a September interest rate rise has now lifted to 80%.

Westpac make a good point … it could be just antsy Germans! (I bolded it):

• EUR/USD … rebounding to 1.1675 after a Bloomberg story cited anonymous ECB policymakers who are uneasy that markets are not pricing an interest rate hike before Dec 2019.
• The ECB members apparently think Sep or Oct 2019 is a likely time.
• There was no indication of whether these policymakers are simply hawks. Recall that the ECB's official guidance is that rates should be on hold "at least through the summer of 2019.

Its near 8.30am In Tokyo, we will start to get the Asia market response response very soon indeed.