Antipodean currencies on top as trade war.....>

FOREX: Antipodean currencies on top as trade war fears subside

-NOK is leading the way this morning in a generally a weaker dollar environment

as markets reflect on the slide in the S&P500 yesterday (the index closed below

the 200DMA for the first time since 2016) and rising hopes of an imminent NAFTA

deal to be announced as soon as next week.

-JPY is the weakest currency across the board despite a bout of volatility

courtesy of BoJ's Kuroda, who stated the Bank are internally discussing a policy

exit. Nonetheless, heavy USD/JPY buying from local banks and insurance names

late in Asia has helped underpin the pair from the off. Despite that, equities

are seeing little reprieve, with European equities all in the red after the dire

session on Wall Street yesterday.

-Volumes are yet to return in any material way despite PMIs from across Europe:

GBP barely budged despite manufacturing PMI beating expectations and trades

mixed ahead of the NY crossover.

-Speeches from Fed's Kashkari and Brainard the sole highlights of the calendar

left today.