Risk appetite struggled for clear direction...>

FOREX: Risk appetite struggled for clear direction overnight, but JPY managed to

remain atop the G10 pile, as the Nikkei 225 operated in the red.

- GBP also showed some strength, amidst press reports suggesting that Thursday's

EU summit might result in an extension to Article 50.

- AUD came under modest pressure, as Australian house price index declined by

more than forecasted, both on a Y/Y and Q/Q basis. The latest RBA meeting

minutes, released at the same time, provided no notable surprises, as the Bank

reiterated its shift to a neutral stance, with global risks to the the economic

outlook still a concern and domestic focus falling on the labour market. 

- NZD started on the back foot, weighed on by a soft NZ Westpac consumer

confidence print, which saw the index drop to 103.8 from 109.1. However, kiwi

pared losses thereafter.

- Focus today turns to German ZEW survey, UK labour mkt report, as well as U.S.

durable goods and factory orders. Elsewhere, ECB's Praet and Riksbank's

Skingsley will speak. Brexit matters will also be closely watched.