The Japanese Yen (JPY) is soft, down 0.2% against the US Dollar (USD) and underperforming nearly all of the G10 currencies in overall quiet trade, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The price of Platinum also came under pressure in the wake of the correction in Gold and Silver, Commerzbank's commodity analyst Carsten Fritsch notes.

United States Michigan Consumer Expectations Index registered at 50.3, below expectations (51.2) in October

United States UoM 1-year Consumer Inflation Expectations in line with forecasts (4.6%) in October

United States Michigan Consumer Sentiment Index came in at 53.6 below forecasts (55) in October

United States UoM 5-year Consumer Inflation Expectation registered at 3.9% above expectations (3.7%) in October

United States S&P Global Manufacturing PMI came in at 52.2, above expectations (52) in October

United States S&P Global Composite PMI increased to 54.8 in October from previous 53.9

United States S&P Global Services PMI above expectations (53.5) in October: Actual (55.2)

Canada New Housing Price Index (YoY) dipped from previous -1.7% to -1.8% in September

United States Consumer Price Index Core s.a rose from previous 329.79 to 330.54 in September

Canada New Housing Price Index (MoM) climbed from previous -0.3% to -0.2% in September

United States Consumer Price Index n.s.a (MoM) below expectations (325.01) in September: Actual (324.8)

United States Consumer Price Index ex Food & Energy (MoM) registered at 0.2%, below expectations (0.3%) in September

United States Consumer Price Index (MoM) registered at 0.3%, below expectations (0.4%) in September

United States Consumer Price Index (YoY) registered at 3%, below expectations (3.1%) in August

United States Consumer Price Index ex Food & Energy (YoY) came in at 3%, below expectations (3.1%) in September

US Dollar (USD) is likely to trade between 7.1220 and 7.1320. In the longer run, USD could drop to 7.1130; a clear break below this level will shift the focus to 7.1000, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Long-term JGB yields remain steady near recent lows.

The preliminary United States (US) S&P Global Purchasing Managers’ Index (PMI) data for October is due for release today at 13:45 GMT. The report is expected to show that the overall business activity in the private sector grew at a moderate pace.

A lot has happened in financial markets this week, just not in FX markets. EUR/USD started the week at around 1.165 and is not far from that level this morning.

Pound Sterling (GBP) could test the 1.3295 level; a sustained drop below this level is unlikely. In the longe run, for a continued decline, GBP must first close below 1.3295, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Today’s US CPI for September ends a long drought of hard data due to the shutdown. But we don’t expect it to generate a material pick-up in FX volatility. Our call for core CPI is 0.3% MoM and 3.2% YoY – very close to the consensus 0.3%/3.1%.

The Loonie came under some pressure overnight after Trump announced he’s ending all trade negotiations as retaliation for an Ontario-sponsored anti-tariff ad, ING's FX analyst Francesco Pesole notes.

Gold consolidated, following the steep decline. XAU/USD last seen at 4070 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) rose to 49.6 in October from 46.2 in September. The data beat the expected 46.6 figure in the reported period.

United Kingdom S&P Global Services PMI came in at 51.1, above forecasts (51) in October

United Kingdom S&P Global Composite PMI above forecasts (50.6) in October: Actual (51.1)

United Kingdom S&P Global Manufacturing PMI came in at 49.6, above forecasts (46.6) in October

Spain Unemployment Survey above expectations (10.2%) in 3Q: Actual (10.45%)