Small changes for the most part to kick start the new week
Markets are a bit more cautious to begin the new week as US-China tariffs kicked into effect over the weekend and off the back of some sluggish manufacturing PMI data from China.
That is keeping the likes of the aussie and kiwi weaker, with the latter also weighed down by light AUD/NZD buying as well. The risk mood remains a bit more tepid with US futures weighed lower considering the backdrop above.
The dollar is mixed in trading so far with narrow ranges still observed for the most part ahead of European trading.
Looking ahead, the risk mood will be an obvious factor to keep an eye on but I reckon we could see more action in the pound amid Brexit rumours ahead of parliament returning tomorrow after the summer recess.
US and Canadian markets will be closed today so that is likely to result in lighter flows and more tepid movement overall but we'll see if there will be any surprises to follow.
