For the most part, G10 crosses tread water....>

FOREX: For the most part, G10 crosses tread water ahead of today's monetary

policy decision from U.S. FOMC. Rounds of headlines re: Wuhan virus have failed

to move the needle to any significant extent. AUD has drawn some support from

better than forecast Q4 CPI data out of Australia, although headline Y/Y

inflation undershot RBA exp. Nonetheless, the release prompted the trimming of

RBA easing bets as we enter the final stretch ahead of next week's RBA meeting.

- NZD is slightly softer, even as NZ government revealed the details of its

infrastructure spending plans, to be implemented as part of the NZ$12bn stimulus

package announced in December. Elsewhere, NZ job ads registered the fourth

quarterly decline in a row.

- In Asia, CNH has extended its gains vs. USD. KRW & THB have slightly corrected

yesterday's sell-offs, with USD/THB trading back below its 200-DMA. 

- FOMC takes the centre stage today, with Fed Chair Powell to hold his usual

post-MonPol presser. Little in the way of data prints is awaited, France, Italy

and Sweden will report their local sentiment metrics.