Themes

· General mood is “risk off”

· Australian Job advertisements +0.4% from -0.5% last

· Chinese Caixin Services PMI weaker at 41.4 from talk of 46.1

What’s Moving

Asia opened to some profit taking on the Dollar this morning as players adjust positions after the overnight Dollar strength and ahead of tonight’s European holidays.

Profit taking was also seen on the AUD despite a better-than-expected local Job Advertisement report, again after Friday session gains on the Aussie.

The soft Chinese Caixin Services PMI had little impact on trade but did coincide with some small buying of gold.

Tonight looks like a bit of a sleeper in Europe, with bank holidays today in Switzerland, France and Germany. This leaves no major data and few in the way of participants.

U.S. trade also sees no major data on the calendar.