It's the start of the new FX week and the Australian dollar is higher

Monday morning early FX indications

It's just about 9 am in Auckland and that means the FX trading week is underway.

Here are the early price indications:

• EURUSD +3 pips to 1.1169
• USDJPY +6 pips to 108.25
• GBPUSD -19 pips to 1.2928
• USDCHF +5 pips 0.9862
• USDCAD -1 pips to 1.3141
• AUDUSD +11 pips to 0.6915
• NZDUSD +10 pips to 0.6437

All the usual caveats about low liquidity apply.

Trump was touting the Phase One China trade deal on the weekend and said it will be signed somewhere in the United States. Wilbur Ross indicated Iowa, Alaska and Hawaii as possibilities.

In emerging markets, the rand is up over 1% after Moody's opted not to cut the country to junk status, as feared.