A consolidative tone is emerging in the foreign exchange market as this week’s critical events kick off tomorrow. Key releases include the UK budget, eurozone and US Q3 GDP figures, the US ADP private sector jobs estimate, and the quarterly refunding announcement. Apart from the Norwegian krone, which has strengthened nearly 0.5%, other G10 currencies are relatively stable, trading within a narrow range of ±0.1%.
US stock index futures are steady, while gold holds firm within last week’s range, close to record highs. December WTI crude is consolidating near recent lows after a gap down yesterday, currently ranging between $67.20 and $68.10.

Asia-Pacific Markets
In 30 days, Japan’s lower house of parliament will vote on a new prime minister. The last time the Liberal Democratic Party (LDP) lost its majority was in 1993, when seven opposition parties came together to form a coalition government, which lasted less than a year. The opposition now seems even more divided.
In late North American trading, the greenback reached nearly JPY153.90 and remains steady within yesterday's range.
The Australian dollar continues to face pressure, breaking below the 61.8% retracement level of its August-September rally near $0.6575, with buyers emerging around $0.6560 during early European trading.

European Markets
European markets are bracing for a significant week, with eurozone Q3 GDP and the UK Autumn budget due tomorrow.
The euro recovered from its lows near $1.0780 in the Asia-Pacific session yesterday, reaching a high just below $1.0830 in the North American morning. It continues to hold above $1.08, breaking a six-session low (if sustained).
Sterling saw mixed trading within its pre-weekend range, briefly surpassing $1.30 for the first time in four sessions but falling back below this level today.

American Markets
The spotlight is on the US labor market, leading up to Friday’s nonfarm payroll report. Today’s releases include the September JOLTS report, along with September trade and inventory data, which will help economists refine Q3 GDP forecasts. US housing prices and the Conference Board’s consumer confidence survey are also expected.