The U.S. dollar remains firm today, with Sterling hitting a marginal new low and the euro retesting the $1.0950 level. The Reserve Bank of New Zealand's 50 basis point rate cut, though widely anticipated, drove the New Zealand dollar down nearly 1%. Among G10 currencies, the Swiss franc is the only one holding steady.
Gold is consolidating its previous day's losses, remaining mostly below yesterday's settlement price of $2,622. Meanwhile, November WTI crude oil is trading quietly after yesterday’s volatile session, settling near $73.55.

Asia-Pacific Markets
Market participants are paying little attention to the latest high-frequency economic data from Japan, instead focusing on the expected fiscal stimulus package the Japanese government is likely to unveil after the October 27 general election. The U.S. dollar continued to gain strength, reaching JPY148.75 in European trading.
The Australian dollar remained stable yesterday in North American trading, moving within a narrow range above $0.6720, and is holding steady today as well.

European Markets
In the UK, the release of August GDP data tomorrow is the next key event. After flat growth in June and July, economists expect the British economy to have expanded by around 0.2%.
The euro continues to consolidate after its drop from $1.12 to $1.0950 last week, with the previous support level of $1.10 now acting as resistance.
Sterling's decline, which saw it fall more than 3.5 cents recently, has also paused. However, it did touch a marginal new low today near $1.3055, its lowest since mid-September.

American Markets
A final reading of August wholesale inventories is not expected to move markets much, but all eyes are on the FOMC meeting minutes set to be released later today. The minutes are likely to provide further insight into the Fed’s outlook, with the current median projection pointing to another 50 basis points of rate cuts in the fourth quarter and an additional 100 basis points in 2025. There is a sense that market participants are more focused on recent jobs data than Fed officials, partly because the market had deviated from the Fed's guidance.
Four Federal Reserve officials (Bostic, Logan, Goolsbee, and Jefferson) are scheduled to speak during today’s session, with two more (Collins and Daly) speaking after the market closes. Tomorrow's release of September's CPI is expected to be the week's key highlight.