It has been a relatively quiet start for......>

FOREX: It has been a relatively quiet start for the major pairs. JPY crosses

trade marginally lower on the back of the aforementioned weekend stories

surrounding the U.S.-China trade situation. JPY liquidity will be diminished

owing to the Japanese market holiday that is being observed today.

- NZD has been the underperformer, possibly linked to the U.S.-China trade

headlines, although there has been a limited broader reaction to the stories, NZ

services PMI slowed, but remained in expansionary territory, with -ve revisions.

- Friday saw an increase in risk appetite in EU AM, allowing EUR/USD & Cable to

move higher. GBP was then limited by Brexit related comments from a shadow

cabinet min, but cable bounced back to $1.3143 as Brexit Sec Raab said that the

UK & EU are closing in on workable solutions to outstanding issues re: Brexit.

- Release of weaker than exp. headline U.S. Retail sales briefly weighed on the

USD, before market reacted to stronger revisions. Comments from U.S. Pres. Trump

re: the potential for additional China tariffs added extra weight to risk later

on, with the USD firming through the NY session.

- ECB's Coeure & Praet & final EZ CPI data headline on Monday.