AUSSIE-YEN: G10 FX price action has been.............>

AUSSIE-YEN: G10 FX price action has been determined by the combination of

U.S.-China trade concerns & a parliamentary testimony from RBA Gov Lowe. JPY

outperforms at the margin, with AUD closely behind.

- A BBG source report re: the U.S. holding off on a decision about licenses for

U.S. firms wanting to do business with Huawei triggered early risk-off flows;

cautious mood was reinforced by the effective breakdown of Italian ruling

coalition. The risk barometer AUD/JPY sank almost 50 pips before recovering.

- RBA Gov Lowe's remarks inspired fluctuations in AUD crosses. His comment that

Australian economy "may have reached a gentle turning point" supported AUD

crosses before they knee-jerked lower as Lowe mentioned unconventional policy

tools, but promptly deemed them unlikely. 

- PBoC USD/CNY fix remains in focus, the RTRS est. is for CNY7.0222.

- The RBA's latest SoMP is yet to come out later today. Germany, France and the

UK will publish their industrial output figures today. The UK will also report

on flash GDP, while Germany will release its trade balance. Canadian

unemployment, Norwegian CPI and U.S. PPI complete today's data highlights.