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Markets Consolidating After Wednesday's Volatility

FOREX

Markets are far more stable Thursday after yesterday's cross-market volatility. GBP is softer as markets take profit on one of the strongest sessions for the currency in months. GBP/USD has inched back below 1.31, but losses are muted at this stage. UK/EU negotiating teams meet in London later today.

Equities are softer in Europe as well as futures in the US, with the e-mini S&P hitting new weekly lows in Asia-Pacific hours. The final Presidential debate between Trump and Biden takes place after the close Thursday, with polling averages still leaning heavily in favour of a blue wave at November's election.

The USD is clawing back some of the recent losses, with NZD and CAD also stronger. GBP, SEK and AUD are the poorest performers so far today.

Weekly US jobless claims and existing home sales data are the calendar highlights, with advance Eurozone consumer confidence also due. Speeches from BoE's Bailey, Fed's Barkin, Daly and Kaplan may draw focus.

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