From Marc Chandler at Bannockburn Global Forex:
The markets are nervous, five G10 central banks meet in the next three sessions. December WTI holds above $100 a barrel as Iranian attacks continue. Israel goes to the polls today, while top security officials from Saudi Arabia, Pakistan, and Türkiye meet Iranian leaders in Tehran to see if another round of US-Israeli attacks can be averted. The market will also keep on eye on Brazil to see if yesterday's sharp sell-off in response to the unexpected election results will be embraced as a new buying opportunity.
The dollar is firmer against most of the G10 currencies. Renewed pressure on peripheral bonds in Europe, including France, helped drag the euro lower. It is the weakest of the G10 currencies. After posting a bearish outside down day yesterday, today could be the first session this year that the euro will not trade above $1.12. The US economic calendar features durable goods orders, house prices, new home sales, and the Conference Board’s consumer confidence measure. The FOMC and the Bank of Canada meet tomorrow. The market is comfortable with the Fed on hold until December after last month’s hike. Hawkish comments from the governor of the Canada more than a week ago, spurred expectations that the Bank of Canada will initiate its tightening cycle tomorrow....
....MUCH MORE
