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2022 Growth Seen At 4.1%: Finance Minister


Approaching Key Support


WTI Narrows in on Cycle High

FOREX: A rather mundane start to the week for G10 FX, with tight ranges in play
during Asia hours. AUD edged higher on better than exp. local housing finance
data, while JPY benefitted from China Labour Watch reporting that Apple &
Foxconn violated Chinese labour rules at the world's largest iPhone factory,
before the move faded. For all of the Brexit gusto, GBP deals little changed vs.
USD & EUR, following last week's impressive bounce.
- In EM, there has been no tangible reaction in MXN to the release of Mexico's
preliminary budget. USD/KRW is having a look below pivotal resistance again,
after it failed to close below on a weekly basis.
- USD/CNH traded > 200 pips higher at one point, with focus still on last
Friday's RRR cut from the PBoC & the ongoing Sino-U.S. trade tension. The daily
USD/CNY fix was a non-event, once again fixing < exp. & little changed vs.
Friday's level, but the difference between the fix & the USD/CNY close is
- UK production & trade data, goings on in Westminster, as well as comments from
BoE's Vlieghe & ECB's Hakkarainen provide the points of interest today.
MNI London Bureau | +44 0203-865-3809 |