Markets take a festive breather - Not much....>

FOREX: Markets take a festive breather

- Not much to go on so far Monday, with newsflow and market price action thin on

the ground, reflecting the much quieter trading desks across Europe this

morning. As such, recent ranges are being respected and there's little sign of

that changing heading into the final few trading sessions of 2019 (and indeed

the decade!).

- Equities are pretty mixed but largely non-directional. Asia-Pac equities took

some support from weekend reports from Xinhua hat China will cut some import

tariffs from Jan 1, when it will lower import tariffs on 850 items & increase

imports of some consumer goods. It will also lower import tariffs for some IT

products from Jul 1. The Global Times played this down via Twitter, noting

"China would reduce import tariffs even without the phase-one deal. Amid a

growing domestic market, China is seeking a more cooperative and inclusive

global trade environment," per Tian Yun, vice director of the Beijing Economic

Operation Association.

- US durable goods & new home sales data and Canadian GDP for October is due.