USD/JPY severed a key support from Apr 29.....>

FOREX: USD/JPY severed a key support from Apr 29 low of Y106.36, prompting the

yen to extend gains, with liquidity thinned by a public holiday in Japan.

Commodity FX are pressured, as crude oil and U.S. equity index futures have

headed lower. Early trade saw NZD pop higher in reaction to above-forecast local

jobs data, but the move was very short-lived as the survey covered a period

before nationwide lockdown measures took effect. G10 crosses are back from

extremes as we type, but JPY remains the leader & NOK brings up the rear.

- USD/CNH is little changed despite a stronger (or less weak) than expected

post-holiday PBoC fix. The central USD/CNY mid-point was set at CNY7.0690 vs.

BBG median of CNY7.0717 and the prev. CNY7.0571.

- USD/KRW reopened lower and attacked the 50-DMA, but rejected the level and has

ticked off lows since. South Korea is back from a holiday.

- Australia reports monthly and quarterly retail sales at the bottom of the

hour. U.S. ADP employment, German factory orders and services/composite PMIs

from across the EZ come out later in the day. We will hear from ECB's Muller and

Villeroy, as well as Fed's Barkin and Bostic.