Ambiguous messaging from White House..........>

FOREX: Ambiguous messaging from White House advisor Peter Navarro rocked the

boat in Asia, with resultant swings in risk appetite driving FX price action. A

round of risk-off flows emerged as a Fox News interview with Navarro got wider

airing, with the off'l noting that the trade deal with China is "over". Reaction

moves were unwound as the White House rushed to downplay those comments. Navarro

complained that his words were taken out of contexts, while the POTUS added that

the deal was "fully intact". A recovery in sentiment pushed USD/JPY above the

Y107.00 mark. JPY is the worst G10 performer at typing. NZD was also limited,

ahead of tomorrow's monetary policy decision from the RBNZ. USD/CAD popped

higher as BBG reported that the U.S. may announce tariffs on Canadian aluminium

imports by the end of this week and the loonie struggled to recover.

- Aforementioned risk dynamics moved the yuan, which still trades on the back

foot but off earlier lows. KRW led gains in Asia after reopening on a firmer

footing. IDR was dumped after Gov Warjiyo said that BI has room to cut rates.

- U.S. new home sales and global PMI data take focus from here. Fed's Bullard,

ECB's de Cos and BoE's Bailey headline the central bank speaker slate.