Participants have started the week by.........>

FOREX: Participants have started the week by weighing stronger than forecast

official PMI readings out of China against some modestly downbeat reports on

U.S.-China trade talks. The net effect on risk appetite has been positive as

China's PMI data suggested that the local m'fing sector has returned to

expansion after a seven-month hiatus.

- NZD sits atop the G10 pile, with the broader commodity-tied FX faring

relatively well. Stronger than forecast NZ terms of trade may have helped NZD

take the lead. Meanwhile, safe havens underperform in the G10 basket, with JPY

leading losses after a round of sales on a firmer open from the Nikkei 225.

- GBP kicked off on a softer note & remains limited as a round of polls from

over the weekend indicated the the Tory lead has shrunk.

- Appetite for riskier assets has helped KRW make gains, even as South Korean

CPI and trade surplus fell short of expectations.

- The remaining data releases today include a number of m'fing PMI readings from

across the globe, as well as a testimony from ECB Pres Lagarde and comments from

her colleagues Rehn & Holzmann.