Crypto News: Investors boost bullish bets on Aussie dollar

Good morning, it's Georgie here in Sydney. Here's what you need to know today...

Today's must-reads:
• Investors bullish on Aussie dollar
• Albanese's Labor slips in the polls
• Tribeca's star fund manager Jun Bei Liu to start new firm

Institutional investors turned most bullish on the Australian dollar since March 2021 as signs the nation's central bank will keep interest rates at elevated levels and China's stimulus push revived confidence in the currency.

Australian Prime Minister Anthony Albanese's Labor party fell behind the opposition for the first time since winning office in 2022, according to a Newspoll survey of voting intentions. Labor trailed the Liberal-National coalition 49% to 51%.

New Zealand inflation probably fell back into the central bank's target band for the first time in over three years in the third quarter. The data will be released at 10:45 a.m. Wednesday in Wellington. Meanwhile, New Zealand consumer spending remained weak in the third quarter.

The manager of Australia's second-best performing hedge fund, Jun Bei Liu, plans to open her own firm, ending nearly two decades with Tribeca Investment Partners.

TPG Telecom agreed to sell its fiber assets and the company's fixed business serving enterprise, government and wholesale customers to Vocus Group in a deal valued at A$5.25 billion. TPG shares fell Monday.

The S&P 500 notched another record, its 46th this year, as investors look ahead to earnings. Nvidia led gains in megacaps, Apple rose on a bullish analyst call and Tesla rebounded. Oil and gold fell. Bitcoin jumped. Asian equity futures are up.

OPEC trimmed its forecasts for oil demand growth for a third consecutive month. Global consumption will increase by 1.9 million barrels a day — roughly 2% — in 2024, or 106,000 barrels a day less than previously forecast.

China held military drills off Taiwan that it said were intended as a warning to the island to halt "separatist acts." The Chinese Ministry of National Defense said the country will take "a step further" every time there's provocation by the independence forces, until the issue is "completely resolved."

Chinese stocks overcame a bout of early volatility to post their biggest gain in a week on Monday, suggesting that investors are hopeful the government will deliver on its promise of more fiscal support.

• RBNZ Deputy Governor Hawkesby speaks to INFINZ conference at 9am Sydney time.

Dubai's post-pandemic rebound has lured expats and propelled its key stock index into the ranks of best performers. But it's come at a cost. The glut of lawyers and bankers is pushing up rents, while intensifying competition for school admissions.