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A cautious mood prevailed as investors........>

FOREX
FOREX: A cautious mood prevailed as investors brace for the resumption of
U.S.-China trade talks. U.S. TR Lighthizer & Tsy Sec Mnuchin are heading to
Shanghai to meet with the Chinese delegation led by VP Liu on Tuesday. 
- Risk aversion put a bid into safe haven FX. JPY emerged as the best G10
performer, further bolstered by idiosyncratic factors. USD/JPY was offered into
the Tokyo fix amid talk of Japan's mamooth Government Pension Investment Fund
starting to hedge its overseas investments. A slide in the Nikkei 225 and
positioning ahead of this week's BoJ & FOMC meetings also aided the yen.
Elsewhere, no reaction was noted to better than exp. Japanese retail sales data.
- The Antipodeans extended their recent losing streak, weighed on by the broader
risk-off feel and softer bond yields at home.
- Sterling faced headwinds from off as numerous press reports suggest that PM
Johnson's gov't has severely intensified preparations for a no-deal Brexit.
Renewed cable sell-off was noted as the rate breached Friday's multi-year low.
- It is a very quiet start to the week, with no central bank speakers expected
today. Dallas Fed manufacturing survey is on the data calendar.
Energy BulletsCommodities
Energy BulletsCommodities

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