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Caution Seen In Muted Asia-Pac Trade

FOREX

Defensive feel dominated in muted Asia-Pac trade, as participants prepared for Friday's NFP report out of the U.S. Risk aversion applied a modicum of pressure to commodity-tied FX amid softer crude oil prices.

  • USD/CNH crept higher but remained within the confines of yesterday's range. The PBOC set their central USD/CNY mid-point at CNY6.4594, 10 pips above sell-side estimate.
  • The data calendar is fairly U.S.-centric today, weekly jobless claims, factory orders & durable goods orders will grab attention. Comments are due from Fed's Bostic & Daly as well as Riksbank's Floden & Ingves.

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