From Marc Chandler at Bannockburn Global Forex:
Overview: The US dollar is trading heavier against most of the world's currencies today. Better than expected Australian employment data, which boosts speculation that the central bank's easing cycle is over, helps explain the Australian dollar's gain to its best level of the month. However, sterling is firm and extended yesterday's gains despite news that the economy contracted in September and barely grew at all in Q3. September industrial output in the eurozone disappointed but the euro reached $1.1635, a new high for the month, as well. Emerging market currencies are also firmer, but for a few East Asian currencies, and the Turkish lira.
Equities are mostly higher. China's CSI 300 rose 1.2% to lead the regional rally. Only Taiwan and Australia among the larger bourses failed to advance. Europe's Stoxx 600 is trading with a firmer bias, with a three-day rally in tow. US index futures are largely steady. European benchmark 10-year yields are narrowly mixed, and the 10-year US Treasury yield is little changed near 4.07%. The US Treasury will sell $205 bln in bills and $25 bln 30-year bonds today. Four Fed officials speak but at least four officials who have spoken recently seem to favor standing pat next month. Gold continues to recover. It is higher for the fifth consecutive session today and reached $4240, the highest since October 21 when it traded to $4375 (record high set the previous day ~$4381.50). December WTI has steadied after plunging nearly 4.2% following heighted concerns about oversupply. It initially extended yesterday's decline to almost $58 before steadying. Net-net it is off about a dollar from last week's settlement ~$59.75).
USD: The Dollar Index snapped a five-day down draft yesterday but has been sold to a new low for the month today near 99.15....
....MUCH MORE
