AUD easily topped the G10 pile, as an.........>

FOREX: AUD easily topped the G10 pile, as an unexpected victory for the ruling

Liberal/National coalition in Saturday's federal elections provided support from

the off. Projections indicating that the gov't may win enough sits to command

parliamentary majority further boosted the Aussie.

- JPY was the weakest G10 currency, while stronger than exp. Japanese GDP

figures helped improve risk sentiment (despite mixed breakdown data). 

- The broader commodity-tied FX space drew additional support from firmer oil

prices, after OPEC+ signalled their intention to keep supply limited through the

rest of the year.

- USD/CNH declined, as yuan was aided by a slightly stronger than exp. fix from

the PBoC, as well as rhetoric re: excessive yuan depreciation from Chinese

policymakers and state media. However, INR was the top performer in Asia as exit

polls indicated that PM Modi's coalition won the country's general elections.

- Focus turns to German PPI & EZ c/a data, with ECB's Praet, Riksbank's

Skingsley, BoE's Broadbent, and Fed's Clarida, Williams & Harker due to speak.

Worth noting Singapore observes a national holiday.