Slow start to a busy week -The BoJ, Fed and...>

FOREX: Slow start to a busy week

-The BoJ, Fed and BoE meetings this week will be the focus for markets and, as

such, this morning's been a quiet one, with just Swedish GDP providing FX with

any direction. Q2 Swedish GDP grew twice as fast as expected (1.0% vs. Exp.

0.5%), sending EUR/SEK lower by 0.6% to touch the lowest levels since July 9th.

German regional CPI numbers have been non-directional and appear to confirm that

national German CPI numbers later today will be broadly inline with

expectations.

-CAD and AUD are the weakest in G10 FX despite slightly firmer commodity prices

and somewhat positive NAFTA headlines from White House adviser Hassett over the

weekend.

-Dollar trades mixed to slightly lower and well within last week's range, but

today's pending home sales numbers could provide short-term direction.

-Today's focus unlikely to be on data releases however, with BoJ's decision

overnight (seen as a 'live' meeting) the focal point for FX traders.