10-year Treasury yields fall back to 1.28% so far today
The bond market is at a crossroads now after the double-bottom rebound at 1.13% looks to be stalling at the critical 1.30% level as well as the 200-day moving average (purple line), after having seen a strong push on Friday following the NFP report.

UBS reacts to Friday’s solid non-farm payrolls report
The firm comments that:
“ Payrolls are 5.7 million below their pre-pandemic peak and that gap is narrowing month by month. The recent increase in COVID-19 case counts adds some uncertainty to the outlook, but we still expect strong job growth in the months ahead.“
Adding that by year-end, there should

PBOC remarks in its Q2 monetary policy implementation report
Those are the key points to note, which just reaffirms their policy stance over the past few months. When it comes to these, China tends to preempt any imminent changes so the repeat of the commentary above means no change is expected for now.

A look at what is on the board for today
bold
That may keep price action more contained closer to the July low @ 1.1751, with topside limited closer to the 1.1800 handle for the time being. Besides that, there isn’t any other significant expiries for other pairs to start the new week.

A couple of Fed speakers on the agenda to start the new week
Here is the schedule:
1410 GMT – Atlanta Fed president, Raphael Bostic, to speak
Bostic will be sharing insights about building an inclusive society and inclusive economy through community collaboration in his today. Given the discussion topic, there shouldn’t be much pertaining to monetary policy

The Delta strain of COVID-19 in Australia is spreading more quickly, weekend reported new cases.
Report on Saturday (i.e. for Friday’s cases) by state.
(Australia’s largest population state) recorded new cases

Ethereum had its update last week (); it was headed higher in the days and weeks leading into it and its gained since:
Ethereum Improvement Proposal (EIP) 1559,

A Saturday vote in the US Senate, 67-27 vote in favour of a move to limit debate on the legislation
Negotiations continue on amendments and there are some pundits suggesting work on the legislation could be completed Saturday night Washington time. Senate Majority Leader Schumer says he will keep the Senate working until there is a vote on

In USD terms China’s Trade balance for July was 
$56.58 bln
Exports +19.3% y/y for a small miss on the median consensus estimateImports +28.1% y/y, also a miss

The Chinese trade data for July 2021 will be released on Saturday (China time).
I was expecting it on Friday (yesterday), nope. 
In USD terms:Goldman Sachs say exports from, and imports into, China in July will be down on June due to adverse weather („A typhoon around Yangtze River Delta“) and port disruptions.