A risk off Asia-Pacific session set the.......>

FOREX: A risk off Asia-Pacific session set the tone for FX as the -ve lead from

Wall St., as well as worry surrounding Chinese stocks & touted vol. resets drove

price action, meaning JPY outperformed. USD/JPY hovers just above Y112.50, while

EUR/JPY managed to break below 129.00. USD/JPY bears initially target Monday's

intraday low (Y112.35) before focusing on Y112.00. After securing a close below

the 100-DMA EUR/JPY bears look to challenge last week's lows (Y128.32).

- AUD & NZD underperformed. AUD/USD hovers ~25 pips above YTD lows, a breach

would open up $0.7000. Bulls need to recover the Oct 17 high ($0.7160).

- USD/CAD last trades at C$1.3096 with the CAD outperforming all other majors

but JPY. The BoC meeting on Weds is exp. to result in a 25bp interest rate hike

(~90% probability priced in), which is likely supporting CAD, despite some

pressures which would usually weigh (re-emergence of tensions between the U.S. &

Canada, as well as the U.S. & Saudi, & general risk off flows).

- BoE's Haldane & Carney will speak Tuesday, in addition to Fed's Kashkari,

Bostic & Kaplan. Data is light, headlined by Eurozone Consumer Confidence.