Commodity currencies creep higher -Despite....>

FOREX: Commodity currencies creep higher

-Despite further risk-off sentiment evident in equity and bond markets today,

currency markets are slightly quieter, with most G10 pairs trading well within

recent ranges. Nonetheless, commodity-tied FX is slightly stronger, with NOK,

AUD and NZD buoyed by oil holding much of its rally seen Friday. GBP was briefly

volatile as the ECJ confirmed the UK can unilaterally withdraw Art50.

-The arrest of the Huawei CFO in Canada remained the focus of the Asia-Pacific

session, with markets speculating that the move by US authorities will do little

to soothe trade tensions between Trump and Xi. As a result, equities are

uniformly lower in Europe after a negative close in Asia also.

-The SEK underperforms all other majors on another round of weak domestic data,

with household consumption shrinking and falling well shy of expectations.

Outside of that, markets mainly tread water ahead of key risk events including

the ECB, Norges Bank, SNB and Russian central banks.

-Canadian housing starts and speeches from ECB's Angeloni and BoC's Lane are the

calendar highlights Monday.