From Marc Chandler at Bannockburn Global Forex:
Overview: The US dollar begins the important week quietly but heavier against all the G10 currencies, led by sterling. It is pushing against the $1.36 cap that has blocked the upside over the past couple of months. All but a few emerging market currencies also enjoy a firmer tone today. The Mexican peso has recorded a new high for the year as the greenback slips toward MXN18.40. The appeals court ruling on President Trump's firing of Federal Reserve Governor Cook may come today ahead of the tomorrow's start of the FOMC meeting, which is widely expected to cut rates by 25 bp for the first time this year.
Equities are mostly higher. There were a few exceptions in the Asia Pacific region, including Taiwan, Australia, and India. Europe's Stoxx 600 is firmer and recouped the minor loss seen before the weekend. US index futures are narrowly mixed. European 10-year yields are mostly 2-3 bp lower. French bonds are underperforming slightly after the Fitch's downgrade before the weekend. Spanish and Portuguese yields have leading, after their rating upgrades, but Italian bond yields have fallen nearly as much. The 10-year Treasury yield, which dipped below 4% briefly last week, is little changed today near 4.06%. Gold continues to consolidate after setting the record high last Tuesday a little below $3675. After trading in a wide-range before the weekend (~$61.70-$64.00), October WTI is trading calmer today between about $62.50-$63.25....
....MUCH MORE
