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Positive US-China trade talks comment from....>

FOREX
MNI (London)
FOREX: Positive US-China trade talks comment from US Trump late Monday provided
a, Tokyo holiday thinned, Asian session with a modicum of risk appetite. Demand
for JPY crosses allowed EUR/USD to slowly recoup some lost ground (having been
sold back to $1.1139 into Monday's London fix, off an earlier high of $1.1179),
the rate edging to $1.1156 into Europe. A stronger scenario for cable, as it
edged to $1.2987(off a late NY pullback low of $1.2957), in turn pressed EUR/GBP
back under Gbp0.86. Lack of upside momentum in Europe prompted short term
traders to adjust long sterling positions, popped EUR/GBP to Gbp0.8620 which
dropped cable to $1.2922. However, sterling continued to find willing buyers
into dips. 
- Safe havens remained on the back foot in Europe, CHF retaining a softer tone.
- The loonie shrugged off preliminary results of Canadian federal election, with
PM Trudeau's Liberal Party poised to secure a plurality of seats.
- U.S. existing home sales, Canadian retail sales, BoC Business Outlook & Snr
Loan Officer Surveys and ECB Bank Lending Survey are on today's docket.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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