FX price action in the first half of..........>

FOREX: FX price action in the first half of today's Asia-Pac session has largely

been driven by risk-on flows triggered by positive signals re: Sino-U.S. trade

relations, including the BBG source report, which suggested that "Pres Trump is

increasingly eager to strike a deal with China soon in an effort to perk up

financial markets that have slumped on concerns over the trade war, according to

people familiar with internal White House deliberations." As a result, the

Antipodeans were lifted higher against their G10 peers, although AUD gains were

tempered by a soft AU building approvals print. 

- CAD remains strong, as oil extends its recent rally, with WTI moving above

$50/barrel & bearish momentum in USD/CAD gaining further traction. 

- JPY struggles against the risk-on backdrop. USD finds itself at the bottom of

the G10 pile, with DXY currently sitting at ~95.80. 

- FOMC meeting minutes & the BoC rate decision headline today's docket, while

key data releases include German trade balance & EZ unemployment. Elsewhere,

Fed's Bostic, Evans & Rosengren, as well as BoE Gov Carney will speak. Focus

will also fall on the Riksbank's Dec meeting minutes.