U.S. equity index futures have declined.......>

FOREX: U.S. equity index futures have declined from the off, bolstering JPY from

the off, even as Japan's own stock benchmarks remain in the green. No headline

drivers have been seen, participants are left to assess the situation on the

coronavirus front & policy responses across the globe. Sterling is also bid with

a source pointing to short-covering after UK Cll'r Sunak unveiled his bold

rescue package Tuesday. The loonie underperforms its G10 peers, likely amid

positioning before the presentation of PM Trudeau's fiscal package, reportedly

due Wednesday. USD also struggles for momentum.

- In Asian EMFX, policy efforts from South Korean off'ls have supported the won.

The authorities lifted caps on lenders' forward positions & said they are

considering further measures. In addition, ruling party off'ls called for a

second extra budget. Elsewhere, FX trading resumed in the Philippines after a

one-day hiatus caused by a lockdown imposed on the capital region. USD/PHP

opened higher, but has erased gains since.

- Due today: CPI data from Canada & EZ, U.S. housing starts & EZ trade balance.