Currencies inside recent ranges, few fresh....>

FOREX: Currencies inside recent ranges, few fresh cues

- The stellar finish for US equity markets yesterday fed through into the

European open this morning, but the gains are a little more modest on the

continent. Currencies are generally rangebound, with most pairs well within the

week's respective highs/lows.

- UK inflation data came and went with little fanfare with most metrics inline

with analyst expectations. Eurozone final inflation data repeated this pattern,

prompting little market response.

- EUR and GBP are among the weakest today, with NOK, CHF and USD holding their

ground (albeit volatility is very muted). 

- US housing starts/building permits data are they key release Wednesday, with

Canadian CPI data also due. Brazil's central bank also decide on rates, with

analysts expecting a 75bps cut to 2.25%. Fed's Powell also appears in front of

US lawmakers for a second session and speeches are also due from Fed's Mester

and ECB's Visco.