No (major) news is good news? With no major US labour market data released this week, it will be left up to central bank commentary, PMI reports, bond auctions and quarter-end flows to dictate direction. Put together, unless we see evidence of an alarming deterioration in activity from major developed nations, the combination points to an environment where riskier asset classes may outperform. For AUD/USD and USD/JPY, we may therefore continue to grind higher, building on the move that began in mid-September. One pair to keep an eye on if you’re trading Asian or emerging market currencies is USD/CNH which has broken lower despite ongoing weakness in Chinese economic data.