USD
The US dollar gave up some of its recent gains when medium-tier data came in weaker than expected. Import prices slumped 0.5% in October versus the projected 0.1% dip while the September figure was revised to show a sharper 0.6% decline. Wholesale inventories piled up by 0.5% instead of staying flat, hinting at a drop in demand. US banks are on holiday for Veterans Day today.

EUR
The euro resumed its slide against most of its forex peers but managed to stage a quick comeback during the latter sessions. Data from France and Italy were both unimpressive, reminding traders that the economic performance in the top economies in the region is weakening. A speech by Draghi is lined up today and traders are on the lookout for more easing hints.

GBP
The pound was mostly stuck in consolidation as traders are awaiting the release of the UK jobs data today. Analysts are expecting to see a 1.6K increase in claimants, slower than the previous 4.6K gain and enough to keep the jobless rate steady at 5.4%. The average earnings index could improve from 3.0% to 3.2%, indicating a faster pace of wage growth and possibly allowing the pound to recover.

CHF
The franc took its cue from the euro and erased some of its recent losses, buoyed partly by a steady unemployment rate at 3.4%. There are no reports due from the Swiss economy today, leaving the franc sensitive to counter currency data.

JPY
The yen was able to hold on to its recent gains as risk aversion stayed in play. Data from Japan was weaker than expected, with the current account balance printing a much smaller surplus of 0.78T JPY versus the projected 1.50T JPY figure. Japanese preliminary machine tool orders data is due today and a recovery from the earlier 19.1% slide could prop up the yen.

Commodity Currencies (AUD, NZD, CAD)
Comdolls didn’t seem to be too happy about data from China, as the CPI fell from 1.6% to 1.3%, lower than the projected 1.5% figure. Producer prices slipped 5.9% as expected, putting additional downside pressure on consumer price levels later on. Chinese industrial production, fixed asset investment, and retail sales data are due today. Earlier on, the RBNZ Financial Stability Report provided some support for the Kiwi when officials assured that banks can withstand any risks from the slowing dairy sector and the booming home market.

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