It seems that investors completely forget about the hawkish stance of the Federal Reserve. After a bleak session yesterday, the US dollar is on the back foot today. CAD, AUD and JPY are among the best performers in the G10 basket – all are increasing 0.5% more or less. On the other hand, the GBP is losing against the beleaguered greenback as traders are awaiting a speech of Theresa May in Florence where she is going to outline the UK’s Brexit future.

Otherwise, the euro got a boost following the September PMIs which turned out to be way better than expected boding well for GDP growth in the third quarter. To be precise, there was no single release below estimations after the services sector caught up.

The European equity markets seem to be unimpressed with another burst of fresh tensions between the US and North Korea as the latter warned that a powerful test of nuclear weapon could take place in the Pacific Ocean. Although, the indices have kicked off marginally lower, they’ve already gotten upbeat readings of PMIs which could buoy the prices going forward.

While there was no macroeconomic data published overnight, North Korean foreign minister brought some volatility across financial markets as he warned that Pyongyang could test a powerful nuclear weapon (a hydrogen bomb) over the Pacific Ocean in response to US President Donald Trump’s threats of military action. According to CNN, the country’s foreign minister, Ri Yong Ho, told reporters in New York the ultimate decision was up to the regime’s boss Kim Jong Un. Notice, that Ri Yon Ho was scheduled to address the United Nations General Assembly later in the day but he dropped out.

Over the course of the past months we could have heard upbeat stories from Russia when it comes to cryptocurrencies. Many industry observers have waited for legalization of cryptocurrencies but it looks that they will have to wait more than they would like.

Looking forward, Canadian inflation and plethora of speeches from ECB and FED members are on the agenda. Thus, it’ll be another busy afternoon for G10 currency traders before they leave the markets to put their feet up.