Most G10 crosses have stuck to fairly tight...>

FOREX: Most G10 crosses have stuck to fairly tight ranges thus far, with AUD

landing at the bottom of the G10 pile on the back of a soft domestic building

approvals print, which slipped by 8.4% M/M against exp. of a 2.0% increase. 

- CAD has outperformed, extending on Friday's rally which occurred alongside a

jump in oil prices, although WTI has traded flat today. 

- The Nikkei 225 opened the week on the front foot, weighing on JPY somewhat,

but the yen recovered thereafter, with USD/JPY tracking gyrations of the

Japanese benchmark equity index. 

- As a reminder, Lunar New Year holidays are observed to a varying degree in

certain Asian markets this week, with China & South Korea closed today, while

Singapore & Hong Kong will close at the end of morning trade. 

- Focus today turns to UK construction PMI, Italian CPI & U.S. durable goods.

Central bank rhetoric will be provided by ECB's Mersch & Costa.