The DXY advanced, initially aided by the......>

FOREX: The DXY advanced, initially aided by the softer trade rhetoric adopted

between the US & China over the weekend. The US put tariffs on Chinese goods "on

hold" after China pledged to significantly boost its purchases of US goods, with

a US delegation set to visit China to discuss trade matters.

- AUD was the outperformer on the US-China trade headlines, with AUDUSD adding

15 pips, while NZD faced headwinds in lieu of softer than expected retail sales

data, before recovering to near unchanged levels. Elsewhere GBPUSD ran to fresh

YtD lows of 1.3427, with a lack of fundamental catalysts apparent. Weekend

headlines noted that some backbench Tory MPs believe that there will be a snap

election later this year owing to the Brexit deadlock. EURUSD edged lower as

Italy's populist parties (5-Star & The League) moved closer to governing, with

the cross registering a fresh YtD low. CAD was supported by a move higher in

oil, while JPY & CHF softened vs. USD on the uptick in risk assets. Widespread

European holidays come in the form of the Whit Monday holiday today, with Canada

also closed. The most notable risk events consist of central bank speak via

ECB's Nowotny & Fed's Bostic, Harker & Kashkari.