European stocks are catching up to Wall Street’s overnight rally after the US Senate approved a bill to end the record 40-day government shutdown, with the measure now heading to the House for a vote tomorrow.
The dollar has been steady, with dollar-yen briefly touching a new 9-month high before easing on intervention concerns.
UK data disappointed sharply as payrolls fell for a second month and unemployment climbed to 5%, fueling expectations for a December BOE rate cut. Though MPC Hawk Green remained wary about persistent inflation and strong wage growth, the German ZEW survey undershot forecasts while euro-Swiss eased after reports that Switzerland is close to a tariff deal with the US.
In Australia, consumer confidence surged to its highest since 2021, signaling a recovery in demand despite inflation worries.
With no major US data today or Fed speakers, focus shifts to remarks from ECB officials Coocher and Escrea for fresh policy cues.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
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