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Caution Creeps In Amid Chinese Holidays

FOREX

Signs of progress in U.S.-Iran talks were weighed against the prospect of tighter sanctions against Russia, following the discovery of graphic evidence of its war crimes in Ukraine. Market activity in the Asia-Pacific timezone is limited by holidays in China and Taiwan.

  • Antipodean currencies have lost some altitude in early trade, amid weakness in both crude oil and U.S. e-mini futures. That said, AUD/USD and NZD/USD have held the prior trading day's ranges.
  • The yen has clawed back its initial losses amid demand for safety, which sees CHF sitting atop the G10 pile. USD/JPY rose in early trade but eased off after failing to re-test Friday's peak.
  • Today's global data docket features U.S. factory orders & final durable goods orders as well as Canadian building approvals and BoC Business Outlook. Comments are due from a couple of BoE members, Gov Bailey and Dep Gov Cunliffe.
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