Green shoots in Chinese economic activity.....>

FOREX: Green shoots in Chinese economic activity data and a firmer than forecast

PBoC fix failed to set the tone of the session as participants assessed lack of

clarity re: U.S.-China phase-one trade deal. Sterling retained its topside

impetus & topped the G10 pile, despite lack of fresh catalysts, but is yet to

approach Friday's best levels. UK focus is on the political/Brexit ramifications

of last week's general election, which yielded a strong Tory majority.

- A solid performance from the SEK can likely be attributed to seasonality &

positioning ahead of the Riksbank MonPol decision. Sweden's central bank is exp.

to bring its policy rate to 0% by delivering a 25bps hike on Thursday.

- AUD, NZD & CAD struggled for momentum, helped bring up the rear in G10 basket

defying positive stimuli from China. Australia's MYEFO saw cuts to the country's

budget surplus forecasts through 2023 & this year's GDP growth projection, while

FinMin Cormann pushed back against suggestions of need for more fiscal stimulus.

- A slew of flash m'fing PMI readings from across the globe, Italian CPI and

U.S. Empire m'fing take focus from here. Speeches are scheduled from ECB's Lane

and de Guindos, as well as Fed's Kashkari.