FOREX SUMMARY correction

G10 FX continues to trade within ranges, but USD has seen better buying since the EU Equity cash open, as indices drifts lower on the opening bell.

• USD is outperforming against most G10s, and most against risk tied AUD, up 0.4% versus the latter.
• Safe haven FX, CHF and JPY are holding onto gains, taking their cues from the risk sentiment.
• Norges Bank left their rates unchanged, as expected by most Economist, but NOK came under some pressure.
• Norges: "The forward guidance removes the explicit reference to rate hikes except in response to the June forecasts. It now reads: "The Committee's assessment of the outlook and balance of risks suggests that the policy rate will most likely remain at today's level for some time ahead." In June it said: "The policy rate forecast implies a rate at the current level over the next couple of years, followed by a gradual rise as economic conditions normalise."
• Philippines BSP kept their rates unchanged at 2.25%, as expected, with the CB noting that inflation environment remains benign.
• USDCNH tested low of the day, following news that US-China have agreed to holds talks in the coming days.
• USDCNH printed a 6.9105 low, now at 6.9185 at the time of typing.
• Looking ahead, ECB minutes, US Jobless, Riksbank Skingsley and BoC Beaudry are the highlights this afternoon.