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Despite holding up well in the wake of the first Presidential debate, the USD resumed the recent pull lower as US markets got underway, with a decent bounce in US stocks (at the expense of Treasuries) adding to the drag on the greenback. Fiscal optimism was most commonly cited, as Mnuchin meets with Pelosi to present the White House's counter proposals on COVID stimulus measures. The equity rally saw the e-mini S&P hit the best levels since mid-September, with Treasury yields following suit.
Anticipated USD-buying into month-end failed to materialize, raising suspicion that much of the flow was likely front-loaded earlier in the week, helping flatter AUD, CAD and NOK primarily. A better-than-expected ADP employment change figure helped add to the risk-on bid, with EMFX outperforming core.
Japan's Q3 Tankan survey crosses Thursday as well as final manufacturing PMIs globally, weekly US jobless claims and Manufacturing ISM. BoE's Haldane, Fed's Williams and ECB's de Cos & Lane.