G10 FX price action was ltd to some very......>

FOREX: G10 FX price action was ltd to some very mild knee-jerk reactions to

headlines from China's state media. A fleeting round of risk-on flows emerged as

Xinhua reported that top trade reps from the U.S. and China spoke by phone &

agreed to keep in touch over sticking points in phase-one trade talks. Little of

substance there, resultant price swings unwound promptly. Global Times then

reported that there is still disagreement over the scale of tariff rollback.

- USD/JPY posted an uptick upon the breach of its 200-DMA, which provided a

layer of support subsequently. NZD/USD started by retracing its jump into the NY

close caused by a beat in NZ retail sales, but regained poise thereafter.

- The yuan responded to the aforementioned headlines, firmed up post-PBoC fix.

- Central bank rhetoric, provided by Fed Chair Powell and RBA Dep Gov Debelle,

brought no deviations from their respective usual stances.

- Tuesday's docket features second-tier releases, such as cons. conf. gauges

from the U.S. (Conf. Board) and Germany (GfK), U.S. new home sales and wholesale

inventories, as well as Swedish PPI. We will hear from RBA's Lowe, ECB's Coeure

and Wunsch, Riksbank's Skingsley and Ohlsson, as well as Fed's Brainard.