USD Loses Ground Into Month-End, CNH Well Bid

The USD went offered in Asia as we are nearing the month-end and a downtick in the three major e-mini contracts did little to help the dollar. Demand for the yuan added pressure to the greenback, with USD/CNH shedding ~300 pips thus far as communique surrounding China's next five-year economic plan received scrutiny. There was little that we wouldn't already know in comments from Chinese leaders, who reiterated desire to turn the country into a global technological hub and promote the role of domestic market in driving economic growth.

• CHF joined USD in losing steam, but JPY help up fairly well, even as it is the last Gotobi Day of the month today.
• AUD tracked gains in the yuan, topping the G10 pile as a result. Commodity-tied peers CAD & NOK also firmed up, but NZD failed to pick up a bid. AUD/NZD recoiled from a three-month low and advanced towards its 200-DMA, but failed to test the level as of yet.
• KRW garnered some strength owing to a faster than expected recovery in South Korea's industrial production.
• On the radar today we have EZ unemployment & advance GDP, flash French & Italian GDPs & CPIs, Canadian GDP, personal income/spending & MNI Chicago PMI out of the U.S., ECB Survey of Professional Forecasters as well as comments from ECB's de Guindos, Visco, Weidmann & Mersch.