Risk sentiment turned sour as China...........>

FOREX: Risk sentiment turned sour as China reaffirmed its willingness to crack

down on Hong Kong's autonomy, with participants already alarmed by heightened

U.S.-China tensions. There was nothing in the news flow to improve the mood and

commodity FX retreated. NOK was the worst G10 performer as crude oil took a hit

from the defensive feel. AUD faced some mild pressure as Fitch revised

Australia's AAA credit rating outlook to negative. NZD showed some strength

early on, with local Q1 retail sales beating exp., but eased off thereafter. JPY

gained on safe haven demand and looked past the BoJ's monetary policy meeting,

during which policymakers set up a new lending facility. The yen was the only

G10 currency to outperform the greenback.

- Spot USD/HKD probed the water below its 50-DMA breached y'day, before trimming

losses, which was coupled with a continued surge in 12-mth forward points.

- USD/CNH ignored China's decision to drop a 2020 GDP target from its work

report, which included a dose of hawkish rhetoric towards HK & Taiwan.

- UK & Canadian retail sales, minutes from the ECB's most recent policy meeting

and comments from ECB's Lane take focus from here.