From Marc to Market:
Overview: The US dollar is mixed. Sterling is the weakest of the G10 currencies after unexpectedly poor employment reported boosted chances of rate cut next month. The dollar also made marginal new high against the Japanese yen since February, but so far has remained below JPY154.50. The dollar-bloc currencies are softer while the Scandis are slightly firmer. Holidays in the US and Canada make for a quiet North American session today.
Equities in Asia Pacific were mixed and the MSCI regional index was little changed. South Korea and Singapore were the strongest gainer, while China's CSI 300 fell the most among the large bourses; almost 1%. Europe's Stoxx 600 is rising for the second consecutive session, something it has not done in a little more than two weeks. The S&P and Nasdaq futures are off around 0.20-0.35%. Most benchmark 10-year yields in Europe are slightly firmer, the UK Gilts are an outlier--with a 5-6 bp decline. US note futures imply steady to slightly firmer yields. Gold extended yesterday's $114.50 gain and is up another $22 to $4138, having recorded a high near $4149 today in the cash market. It has now retraced a little more than half of what it lost since the record high was set on October 20 (~$4381.50). December WTI is firm but continued to be capped in the $60.50 area for the fourth consecutive session.
USD: US banks and bond market are closed today while the stock market is open. The House of Representatives may vote tomorrow on the compromise bill that was approved by the Senate....
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