From Marc Chandler at Bannockburn Global Forex:
Overview: Bonds and stocks are mostly heavier today and the dollar has turned mixed. Oil prices are consolidating after soaring to new highs since late last year on the longer than expected extension of Saudi Arabia's extra cut of one million barrels a day. Since July, it has been extending it by one month at a time. Yesterday, it extended it through Q4. Russia, who had previously indicated intentions on reducing its exports by 500k barrels, announced it was extended a 300k barrel a day cut also through the end of the year. October WTI's eight-day rally is under threat today. It is consolidating largely in a $86-$87 range today. Note that the average price of US retail gasoline is slightly lower than where it was a month ago but is still relatively high for this time of year (~$3.80 a gallon).
Stepped-up warnings by Japanese officials have may have helped steady the yen. The dollar is narrowly mixed against the G10 currencies and is =/+ about 0.15%. Most emerging market currencies are lower. Of note, the Mexican peso remains under pressure as stale longs get squeezed out. The peso is off about 0.7% today, making it the weakest of the majors. Over the last five sessions, it is off nearly 4.7%. Equities in the Asia Pacific region were mixed. Japan, Hong Kong, and India are higher. China's Shanghai and Shenzhen composites eked out a small gain, but the CSI 300 slipped by around 0.2%. The Stoxx 600 in Europe is off by about 0.65%, which would make it the sixth consecutive losing session if sustained. US index futures are heavier. European benchmark yields are slightly higher, while the US 10-year yield is flat slightly above 4.25%. After testing $1950 at the end of 4last week, gold is eased to almost $1922.60 today, a six-day low. The 200-day moving average is near $1917....
....MUCH MORE
