It’s been an overnight session marked by generally limited moves in currencies – the Pound the exception – bond yields have been steady-to lower on net, equities down smalls with commodities mixed.
It’s been a mix of events in the UK (better data), Europe (no immediate declared Catalan independence from Puigdemont) and the US (Trump tax politics and a softer NFIB report) that have provided the background for limited currency moves overnight.
Markets were quiet overnight given the Columbus Day Holiday in the US. Equities were flat (S&P500 0.2%), the US dollar was marginally lower (DXY 0.2%), while the US bond market was closed (note futures were open but with little movement).
Despite a stellar US Non-manufacturing ISM, there were only modest market moves overnight.
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