Overnight FX moves were underpinned by the....>

FOREX: Overnight FX moves were underpinned by the ebb and flow in risk appetite

after Iran made good on its retaliation promises & launched missiles at Iraqi

bases hosting U.S. troops. Participants flocked to safe havens, before sentiment

recovered amid the apparent lack of U.S. casualties & further escalation. CAD

held onto gains registered on the back of firmer oil prices. JPY remains mildly

bid, but pared most gains. AUD showed little reaction to the improvement in

local building approvals & job vacancies as geopolitics took the centre stage.

- Asian FX suffered heavy losses, before reviving sentiment helped recoup some

of the early losses. KRW was hard hit thanks to S. Korea's exposure to shifts in

oil prices. Infomax cited S. Korean FinMin as pledging to closely monitor FX

markets. The Bank of Indonesia said it seeks to stabilise IDR, per BBG, but the

currency lost ground nonetheless. USD/CNH had a look above CNH6.9500.

- U.S. ADP employment change, French & EZ consumer confidence data, German

factory orders, Norwegian industrial output and Swedish retail sales take focus

from here. Fed's Brainard and ECB's de Guindos will speak, while the Riksbank

will publish the minutes from its most recent monetary policy meeting.