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EURGBP at session high


Manufacturing Sentiment Slips

FOREX: The Asia-Pacific holiday lull resumed today, with market closures in
Japan and China limiting activity. A modest risk-on feel was observable in the
G10 FX space, amidst reports that Sino-U.S. trade talks are nearing conclusion.
- The yen landed at the bottom of the G10 pile, as a result. Meanwhile, the
Antipodeans outperformed at the margin, even as NZ building approvals declined
by 6.7% M/M after rising by 1.7% in Feb.
- KRW opened on the front foot after the Labour Day holiday, but ebbed off of
best levels. CPI data modestly topped forecasts, but more focus has been placed
on the latest m'fing PMI print, which moved back into expansionary territory,
although a fairly cautious accompanying written assessment was noted.
- DXY ticked away from yesterday's post-FOMC highs.
- The BoE will deliver its MonPol decision and release its inflation report
later today. On the data front, m'fing PMI readings from across the EZ, German
retail sales, as well as U.S. durable goods & factory orders take focus. BoE Gov
Carney will hold a post-MonPol presser, ECB's Hansson, Costa & Praet are due to
speak, while the Riksbank board will testify to lawmakers.