Holiday's Keep Liquidity Thin

Major pairs rangebound ahead of key risk events later in the session. Markets look ahead Australian trade and housing data, followed by the RBA rate announcement.

• AUD and NZD both slightly softer, down a handful of pips each. In Australia ANZ Consumer Confidence rose to 112.7 from 112.4, the majority of the gain was driven by Perth, who recently emerged from a lockdown, though a few sporadic cases and worries over Indian infections tempered the gains somewhat.
• JPY pairs are broadly flat, USD/JPY last up 1 pip. Earlier in the session Japan's Hokkaido asked the government to apply virus measures. A holiday in Japan will leave cash markets closed until London hours, with an ongoing holiday in China sapping further liquidity from the space.
• As a result of the holiday CNY will not trade today, USD/CNH expected to move as a function of the greenback, as a result the pair has barely budged.
• GBP failing to register any gains despite media reports of a preliminary trade deal with India.