FOREX SUMMARY

US Dollar underperforms against most majors during our European morning session.

• This has been a continuation from overnight, given more optimistic news coming out of the US.
• US stimulus hope and US Trump's doctors giving an upbeat health assessment, has benefited Indices.
• GBP saw better early selling, as Brexit and Covid weighted on the currency. UK Public Health said that nearly 16,000 positive Covid test had been missed between 25th Sep-2nd October.
• Matt Hancock will be in the House around 15.30 UK time.
• The Pound, faded some of its weakness, with the move order flow related in thin liquidity, as market participants focus on risk events.
• EUR traded higher, following the Italian PMI beat, 48.8 (vs 46.6 exp., 47.1 prior), albeit still in contraction territory.
• EUR is up 0.63% against the JPY and 0.29% versus the USD.
• Scandies; A miss for Swedish PMI versus last, but limited impact for the currency, with risk leading assets.
• EURSEK found a small bid, albeit trading at mid range at 10.4670 at the time of typing.
• Turkey CPI came below expectations, but close compared to last.
• YoY came at 11.75% versus 11.77% last, and MoM 0.97% versus 0.86% last.
• USDTRY is steady at 7.7500 at typing.
• This afternoon sees, US service PMI, ISM and Fed Evans/Bostic