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Consolidation Mode But Remains Bearish


Fails To Hold Onto Thursday’s High


'Big Tech' Bill Goes To Senate


Oil Up For Fifth Week On Supply Disruption, Geopolitics

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The USD is weaker, but in a range, early Friday, with most major pairs bouncing after early weakness in Asia-Pac hours. EUR/USD bottomed out at 1.1787 but has rallied smartly since to trade just shy of 1.1850 at the NY crossover. The final Presidential debate provided little new, with both candidates sticking to recent rhetoric and offering much heat, but little light.

Global prelim PMI numbers for October continue to show a far swifter recovery for the manufacturing sector over services, with the Eurozone manufacturing component topping expectations while services fell short of forecast.

AUD is outperforming modestly, prompting a new weekly high in AUD/USD as October PMIs showed both the services and manufacturing sectors bouncing well. The 50-dma is now within reach at $0.7199.

Focus turns to US PMI data after the opening bell as well as speeches from ECB's Villeroy and BoE's Ramsden.

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