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Markets don't believe the hype -Despite.......>

FOREX
FOREX: Markets don't believe the hype
-Despite weekend press reports suggesting a Sino-US trade deal is closer than
ever, the relief rally in the likes of USD/JPY and AUD/USD were short-lived,
with risk aversion re-asserting itself well ahead of the US close. US equity
markets focused instead on the lack of clarity from the reports on top of news
from the US House Judiciary Committee, who appear to be making progress their
probe of the US President. EUR/USD retreated to touch the lowest levels since
mid-February while USD/JPY pulled back toward Y111.50 having failed to break
above Y112 and the 50- and 100-dmas.
-JPY traded stronger against all others Monday, but wider Asian FX
underperformed with USD/CNY briefly edging back above the Cny6.71 handle. JPY
watchers, however, continue to eye the Y112 handle, with over $6bln in option
expiries due to roll-off at the handle in the coming 2 weeks.
-Attention turns to the RBA rate decision, UK services PMIs, Eurozone retail
sales and the US ISM non-manufacturing PMI. Speeches from Fed's Kashkari &
Barkin and BoE's Carney are also due.
Energy BulletsCommodities
Energy BulletsCommodities

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