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Modest pressure on commodity-tied FX has......>

FOREX
FOREX: Modest pressure on commodity-tied FX has been noted, as AUD/USD has
breached its yesterday's multi-month low of $0.6935. Broader risk sentiment is
seen deteriorating somewhat.
- JPY has improved slightly and marginally outperforms in the G10 FX space, as
the Nikkei 225 has slid into negative territory right after the open. CHF has
also grown firmer.
- Risk-off flows have weighed on the yuan, with USD/CNH adding ~100 pips ahead
of the release of Chinese activity data.
- Focus today turns to Chinese activity data, Canadian & French CPIs, German &
EZ GDP, as well as U.S. retail sales, industrial output & Empire m'fing.
Earnings results from Alibaba & Tencent will also provide interest, amidst the
Sino-U.S. trade war. Riksbank's Jochnick, ECB's Coeure & Praet, as well as Fed's
Quarles & Barkin are set to speak.

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