Price action has been fairly subdued across...>

FOREX: Price action has been fairly subdued across the G10 FX space so far as

the dust settles after yesterday's wild risk-off moves, inspiring modest

corrections. Safe havens underperform at the margin, even as equities in Japan

and Australia have faltered in the wake of yesterday's sell-off on Wall St.

Although JPY appreciated initially, it has more than erased those gains. AUD

tops the pile ahead of the key labour mkt report to be published in Australia.

- RBA Dep Gov Debelle spoke on "Risks to the Outlook," but his address was quite

general in nature and didn't address MonPol. In Q&A Debelle said that he is "not

sure how much of a signal" U.S. yield curve inversion "is at the moment."

- In EMFX, Brazilian central bank said they will draw upon dollars reserves for

the first time in a decade to shore up the real; reverse currency swaps will be

offered alongside spot. Elsewhere, South Korea observes market closure due to

its Independence Day today.

- On today's docket: Aussie jobs report, Japanese & U.S. industrial output, U.S.

& UK retail sales, U.S. Empire m'fing, and a policy decision from Norges Bank.