Market holidays in mainland China, Hong.......>

FOREX: Market holidays in mainland China, Hong Kong and Taiwan kept activity

subdued, while regional news and data flow was rather sparse. Fort he most part,

G10 FX were happy to hold right ranges. NZD topped the pile, while its

Antipodean cousin was limited by a spike of Covid-19 infections in the state of

Victoria and the largest plunge in job vacancies on record. As a result, AUD/NZD

retreated under the NZ$1.0700 mark. 

- USD fared well after a strong showing yesterday, while JPY struggled. The yen

dipped as BBG ran a headline from Softbank's Masayoshi Son re: agreement with

Deutsche Telekom not to sell T-Mobile U.S. shares for 4 years.

- Familiar coronavirus worry dented KRW, which led losses in Asia. SGD was the

best performer in the region, perhaps drawing some support from the recent

bearish 50-/100-DMA cross in USD/SGD. 

- U.S. GDP (t), durable goods orders (p) and initial jobless claims take focus

from here. Central bank speaker slate features ECB's Schnabel, Mersch & Knot,

Fed's Kaplan & Bostic, and BoE's Haldane. ECB's Jun MonPol meeting minutes, as

well as monetary policy decisions from the BSP, Banxico & CBRT are due.