From Marc Chandler at Bannockburn Global Forex:
Overview: Corrective forces are helping lift the dollar against all the G10 currencies. The euro's 0.5% pullback is the largest in nearly two months. Sterling's 0.3% loss is the most in nearly three weeks. The dollar-bloc currencies are the most resilient and are off less than 0.2% today. Emerging market currencies are more mixed. Central European currencies have been dragged lower by the euro. The Chinese yuan is a little softer, consistent with the yen's pullback. The Mexican peso, which lead the way lower yesterday is on the top of the EM leader board today.
Equities are mostly firmer today. China and Hong Kong were exceptions among the large bourses in Asia Pacific. Europe's Stoxx 600 is up nearly 0.5% and US index futures are slightly higher. European 10-year yields are 2-4 bp lower today, unwinding some of yesterday's rise. The 10-year US Treasury yield is off almost a basis point slightly below 3.82%. Gold approached the record high set last week ($2532) but perhaps encouraged by a stronger dollar, profit-taking pushed the yellow metal back to almost $2500. Geopolitics and the disruption Libyan and Colombian supply helped lift October WTI to about $77.60 on Monday. It consolidated yesterday, falling to about $75.40 and is now near $74.30. A break of the $73.80 area could target the recent low (~$71.50)....
....MUCH MORE
