Most (but certainly not all) major pairs......>

FOREX: Most (but certainly not all) major pairs traded well within their recent

ranges on Monday, despite some attempts in GBP/USD & EUR/USD to break out. A

bank holiday in the UK kept volume and liquidity thin.

- The MXN drew the most attention throughout the day, advancing on weekend

reports, later confirmed by sources, pointing to an imminent bilateral trade

deal between the U.S. & Mexico, with details dribbling out through the session.

The U.S. & Mexico announced their deal, and the States will now move onto

discussions with Canada in the hope of a tri-lateral agreement based upon the

U.S.-Mexico deal (with this bi-lateral agreement as a kick back).

- Mixed rhetoric re: the prospects of a successful negotiation with Canada did

little to deter CAD bulls, with USD/CAD going out near lows, with the pair

closing below its 100-DMA for the first time since late April.

- ZAR & TRY both suffered on Monday.

- Attention shifts to US trade balance data and consumer confidence numbers for

August on Tuesday, as well as an address from ECB's Praet.