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Sub-Par Volumes Overnight, Owing To Singapore Holiday & Nearing U.S. CPI

FOREX

Desks have pointed to very reserved Asia-Pac FX market activity, with the presence of a holiday in Singapore and spectre of Tuesday’s U.S. CPI the obvious limiting factors for activity overnight.

  • G10 FX desks flagged activity that was 25-30% below the recent norms during Asia-Pac dealing.
  • Elsewhere, some suggested that Asia NDF flow failed to top 50% of the recent norms.
  • More granularly, Citi noted that their positioning indicators point to risk reduction in the G10 FX sphere last week. They note that the most prominent swings came via trimming of USD longs and GBP shorts.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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