-Despite underperforming at the NY............>

FOREX: -Despite underperforming at the NY crossover, EUR rose back toward the

top of the G10 pile Monday during an appearance by ECB President Draghi, who

stated that he sees a "relatively vigorous pick-up in underlying inflation". The

comments saw EUR/USD briefly show above the $1.18 level, keeping the recent

bullish trend intact.

-Nonetheless, EUR failed to outpace GBP, which is the strongest among the majors

today as markets position for significant upcoming GBP/USD flows following the

weekend's $39bln Sky auction, won by US firm Comcast. Despite the bounce Monday,

GBP/USD fails to rally through the 50% retracement of Friday's price action,

lying at $1.3166.

-AUD and NZD failed to recoup the overnight losses, stemming from reports that

US-China trade talks have been kicked into the long grass, with the effect

exacerbated by profit taking after last week's firm rally.

-Attention turns to BoJ minutes, speeches from BoJ's Kuroda, BoE's Vlieghe and

various members of the ECB. Data focus shifts to US Consumer Confidence.