From Marc to Market:
The US dollar is mostly firmer against the major currencies. The Australian and Canadian dollars are the exception, but their gains are minor. Still, the Canadian dollar’s resilience in the face of the US tariffs it faces first thing tomorrow is notable. While some progress has been reported, it seems too close to call. October WTI is at a new high for the month, a little over $85. Bond markets remain under pressure. And the sell-off in stocks is broadening and deepening today.
The US has what appears to be a busy data schedule, but most of the reports pose little more than headline risk. However, US data has more often than not surprised on the downside recently. Meanwhile, the market has pushed the dollar to its best level since last month’s intervention against the yen. It approached JPY159.80 today. The market may draw cautious as the JPY160 level is approached....
....MUCH MORE
