Monday's talk surrounding research into a.....>

FOREX: Monday's talk surrounding research into a Covid-19 vaccine provided the

initial risk-on impulse, which faded away throughout the Asia-Pac session. Focus

turned to U.S. President Trump's threats to permanently cut off funding to WHO

and source reports pointing to the tightening of NASDAQ listing rules for

Chinese companies. G10 crosses are marginally mixed as we are heading for the

London session, with AUD shedding earlier strength. AUD/JPY showed above the key

Y70.16/19 resistance zone, but wiped out those gains later on. NZD/USD ebbed off

its session highs after news wires carried comments from RBNZ officials. Dep Gov

Bascand said that the RBNZ "will evaluate negative rates alongside other

options" and "could expand [its QE plan] if needed", while Asst Gov Hawkesby

said that the central bank expects NZD to continue to depreciate.

- KRW & MYR both outperformed USD and led gains in Asian EM basket, as they

played catch-up to yesterday's risk rally at the re-open of onshore trading.

- German ZEW Survey, UK labour market report, as well as U.S. housing

starts/building permits headline the data docket today. Fed's Powell, Kashkari &

Rosengren, ECB's Lane & Norges Bank's Olsen will speak.