Equities bottom but don't quite bounce -......>

FOREX: Equities bottom but don't quite bounce

- Following a bump lower at the open, global equity markets gradually chewed

through the day's losses ahead of the close in a mixed session, but the recovery

stopped well short of the Friday highs. Newsflow and data releases were few and

far between, but markets took some confidence in a sharp slowing of growth in

Florida COVID cases, which had been a focus for markets.

 Currency markets were a little more directional, with a drop in the USD helping

to boost the major pairs through Friday's best levels. EUR/USD made light work

of $1.1254 resistance ahead of the London close, but the outlook remains bearish

while prices hold below $1.1353.

- Alongside the bottoming of equity markets, Antipodean currencies were the

strongest - helping AUD and NZD outperform all others in G10. Focus turns to the

RBNZ rate decision due Wednesday.

- Prelim PMIs are the focus Tuesday, starting with Australian numbers in

Asia-Pac hours all the way through to US. US new home sales numbers are also on

the docket. ECB's de Cos, BoE's Bailey and Fed's Bullard are all due to speak.