With tight ranges generally respected so......>

FOREX: With tight ranges generally respected so far, a cautious feel has crept

into the G10 FX space as participants ponder the latest signals re: Sino-U.S.

trade relations. China's Global Times circulated talk of Beijing demanding the

removal of some U.S. tariffs before the finalisation of a phase-one trade pact

can go ahead. The yen marginally outperforms its peers from the G10 basket at

writing, with some demand into the Tokyo fix helping to keep it afloat.

- NZD dropped just ahead of Tuesday's close as the local Q3 jobs report was less

than inspiring. The unemployment rate rose to 4.2% from 3.9%, amid expectations

of 4.1%. The kiwi recovered early doors before shedding gains.

- The PBoC fix was firmer than estimated, which allowed USD/CNH to dip under the

key CNH7.0000 level. The rate has remained south of the round figure since.

- Coming up today are services/composite PMI surveys from across the EZ, German

factory orders and EZ retail sales. ECB's de Guindos, Enria, Holzmann and

Mersch, as well as Fed's Williams, Evans and Harker are set to speak. Those

watching commodity-tied FX may be interested in the weekly DoE report.