The yield on the US 10-year Treasury is down by roughly a dozen basis points from yesterday’s peak, while stronger-than-expected Eurozone growth in Q3 has influenced some dollar selling. The dollar is softer today against most G10 currencies, excluding the Canadian dollar and the British pound.
Gold hit a record high yesterday and has continued its rally, nearly reaching $2,790 before experiencing minor consolidation. After a gap lower on Monday, December WTI crude remains near its lows, trading between $67.30 and $68.20, within yesterday’s range.

Asia Pacific Markets
The Bank of Japan’s policy meeting kicks off today, with expectations that it will likely hold off on major actions while updating forecasts and reaffirming its forward guidance. The dollar experienced an inside trading day against the yen yesterday and remains within yesterday’s range in subdued trading today.
The Australian dollar saw a third consecutive decline yesterday, touching $0.6545 and dipping further to nearly $0.6535, a level not seen since early August. A close above $0.6585 could help improve its technical outlook.

European Markets
Eurozone Q3 growth exceeded expectations, expanding by 0.4%. Germany’s economy unexpectedly grew by 0.2% in Q3, although the Q2 contraction was revised down to -0.3% from -0.1%.
The euro has shown signs of recovery, bouncing from a four-day low near $1.0770 in North American trading to approximately $1.0820, which could now offer support.
Sterling also touched a five-day high above $1.3010, though buying interest has slowed, and it’s consolidating around $1.30 as the market remains cautious ahead of the upcoming UK budget announcement.

American Markets
In the US, two significant reports are due today: the ADP employment report and the initial Q3 GDP estimate. The ADP data has shown an average monthly private sector job gain of 150,400 this year.
Additionally, Canada is scheduled to release its August GDP figures tomorrow, with growth expected to have stagnated following a 0.2% increase in July. The US dollar gained against the Canadian dollar yesterday, trading both above and below Monday’s range, and is now consolidating within a narrow range against it.