It was a sedate Asia-Pac session, with........>

FOREX: It was a sedate Asia-Pac session, with participants on the lookout for

fresh cues. Light risk-on flows seen across G10 FX space, even as Sino-U.S.

tensions continued to simmer and Victoria declared another record spike in new

Covid-19 cases. The Antipodeans edged higher, correcting yesterday's losses. USD

& JPY traded on a softer footing, amid little demand for safe havens. CAD fared

relatively poorly, with all G10 crosses happy to hold tight ranges.

- A weaker than expected PBoC fix inspired USD/CNH to test yesterday's best

levels, but otherwise the rate meandered through the session.

- USD/IDR printed a seven-week high as the rupiah led losses among Asian EM FX,

which prompted Bank Indonesia to intervene in the spot FX market. The currency

came under pressure following yesterday's decision from the central bank to cut

its policy rate by 25bp. Most analysts surveyed by BBG forecast as much, but a

large minority (11/30) expected policymakers to stand pat.

- U.S. housing starts, building permits & U. of Mich. Survey, final EZ CPI and

Italian industrial output take focus today. The central bank speaker slate

features ECB's Schnabel and de Guindos, as well as BoE's Bailey.