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G10 crosses stuck to tight ranges.............>

FOREX
FOREX: G10 crosses stuck to tight ranges overnight, as the data-light Asia-Pac
session held little of note in the way of news flow. NZD outperformed at the
margin, in spite of a wider than exp. NZ trade deficit reported in the NY/Asia
crossover. The headline figure printed at -NZ$914mn vs. forecasts of -NZ$300mn.
- AUD was modestly pressured by a soft Aussie completed construction work
release, but the initial impact faded through the remainder of the session.
- BoJ Gov Kuroda told lawmakers that the Bank is unlikely to hit its price
target by the end of FY2020. Elsewhere, BoJ's Kataoka maintained his line of
dissent re: MonPol.
- Sterling shrugged off an FT report stating that Jacob Rees-Mogg, the head of
the eurosceptic wing of the Tory party, softened his stance re: the Irish
backstop in PM May's Brexit deal.
- Focus today turns to Canadian CPI, U.S. factory orders, Swedish econ tendency
survey and Norwegian unemployment. The central bank speakers' slate features
ECB's Coeure & Weidmann, while Fed Chair Powell will continue with his
semi-annual address to Congress.
Energy BulletsCommodities
Energy BulletsCommodities

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