The weekend saw hawkish trade comments from...>

FOREX: The weekend saw hawkish trade comments from U.S. VP Pence re: China,

while the APEC summit failed to result in a common communique, with trade war

matters dividing the room. This has resulted in the AUD, NZD & CNH

underperforming in early dealing this week, with the JPY outperforming.

- It has been a relatively quiet start for the GBP crosses, with little in the

way of standout developments re: Brexit over the weekend, as UK PM May sticks to

her guns, while Brexiteer ministers continue to push for amendments to the

Brexit deal, which will seemingly be rebuffed on the continent. Finally, the ERG

seems to lack the numbers at present to force a confidence vote in the PM.

- Friday saw a softer USD, as Fed's Clarida sounded more cautious, before a WSJ

interview with Fed's Harker crossed noting that "he isn't ready to support the

central bank raising short-term interest rates again next month, given the

modest outlook for inflation." N.B. Harker doesn't vote until 2020.

- Highlights this week include ECB Oct meeting mins, RBA Nov meeting mins &

Canadian CPI/retail sales. Elsewhere trade war/Brexit headlines will dominate.

Worth noting it is a holiday shortened week in the U.S. & Japan.