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

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.