Scandis turn south -A pretty woeful set of....>

FOREX: Scandis turn south

-A pretty woeful set of inflation numbers for both Norway and Sweden this

morning put NOK and SEK right at the bottom of the pile, with a follow-up

disappointment from the Norges Bank Regional Network Survey adding further

pressure. The six-month outlook component (closely watched by the Norges Bank

board) dipped to levels not seen since early 2018, boosting EUR/NOK back above

9.90.

-USD/CHF was further bid in early Asia-Pac session, managing to edge to new

highs of 0.9932, the highest level since August 1st, before reversing on a

failure to take cement a move above the 100-dma. CHF now sits at the top of G10

pile early Tuesday, with softer core European equities assisting the move.

-The greenback trades slightly firmer, with upside targets for the DXY holding

at 98.535 and 99.050 - although muted volumes are seen persisting.

-Tuesday's a particularly quiet session, with little on the data docket outside

of Canadian housing starts/building permits and US JOLTS data. With Fed inside

the blackout period, the speakers slate is empty.