Defensive Flows Seen Across FX Space As Trump Goes Into Quarantine

News that a close aide to U.S. President Trump tested positive for coronavirus inspired some light risk-off flows across G10 FX space. The aide was aboard Air Force One during the President's round trip to his debate with Joe Biden. Another round of safe haven demand came as the POTUS confirmed the reports and said that him and the First Lady will go into quarantine. USD led gains in the G10 basket, with DXY peeking through yesterday's highs, amid a lingering stalemate in U.S. fiscal talks.

• Continued slide in oil prices applied some pressure to NOK on top of existing risk aversion, making the currency the worst performer among G10 FX. That said, the loonie held up well.
• USD/CNH rallied reversing half of yesterday's losses, as a dearth of liquidity amplified the potential for more volatile moves. China and Hong Kong as well as Taiwan, South Korea and India observe national holidays today.
• The main data release today is U.S. NFP report, with factory orders, final durable goods orders and final U. of Mich. Survey also due out of the U.S. Elsewhere, Eurostat will publish EZ CPI data. Central bank speaker slate features Fed's Harker & Kashkari, Riksbank's Ohlsson and ECB's de Guindos & de Cos.