Currencies were rangebound overnight with traders sidelined ahead of Fed Chairman Powell’s speech to the IMF today at 2pm ET. The U.S. Dollar Index is -0.06% with USD mixed against the major pairs: +0.14% vs. GBP, +0.10% vs. CHF, -0.42% vs. NZD, -0.31% vs. NOK, -0.28% vs. SEK, and -0.14% vs. AUD.
U.S. Treasury yields ticked higher the long tenors, 25-year +0.079% and 30-year +0.082%.
Weekly Initial Jobless Claims for the week ending Nov 4th were 217k, just below the 218k estimate. The previous week’s claims were revised up by 3k to 220k. The highest weekly jobless claims tally for 2023 was 265k in mid-June and the lowest was 194k in mid-January.
Oil prices are +1.31% today, the first gain following 4 consecutive daily declines.
U.S. Equity Indexes are trading fractionally higher with the S&P leading gains +0.278%.