Little to write home as the beginning of......>

FOREX: Little to write home as the beginning of Lunar New Year holidays saw

several market closures across Asia. Price action across the G10 FX space was

particularly subdued, with focus on any coronavirus updates.

- AUD ticked lower initially, as local flash CBA PMIs weakened, but recouped

those losses when Westpac's Bill Evans joined the cohort of analysts who pushed

back their RBA easing calls after the release of better than exp. labour mkt

data out of Oz. Across the ditch, NZD held onto the gains it registered on the

back of better than expected local CPI data for Q4.

- CHF underperformed at the margin, even as safe haven peer JPY traded flat.

SNB's Maechler said y'day that the Swiss central bank is ready to intervene in

FX mkts, despite being recently added to U.S. Tsy's FX manipulator watchlist.

She added that the SNB cannot drop its negative interest rates right now. 

- USD/IDR sold off upon a breakout from the bearish pennant formation.

- We have more flash PMI readings coming up from across the globe later today,

with Canadian retail sales also due. A bunch of central bankers appear in Davos,

including ECB's Lagarde, Villeroy and Knot, BoE's Haskel and BoJ's Kuroda.