The dollar is consolidating with a slightly heavier bias today. Among G10 currencies, most are firmer except for the New Zealand and Canadian dollars, which are slightly weaker.
Equity markets are down, and US index futures are also softer.
Gold has relinquished the gains it made yesterday, when it reached new record highs near $2450. It has since fallen to $2406 and is trading around $2414 near midday in Europe. July WTI crude oil briefly topped $80 a barrel yesterday for the first time since May 1 but ended the day lower and has eased to around $78.50 today.

Asia-Pacific Markets
Japan is set to report April's trade balance tomorrow, with a small deficit anticipated following a JPY 387 billion surplus in March.
The dollar reached a marginal new high in North America yesterday near JPY 156.30 and touched JPY 156.55 today before pulling back.
Similar to last week, the Australian dollar encountered resistance above $0.6700 yesterday. The Aussie settled below its five-day moving average for the first time since May 10, indicating waning momentum. It was sold down to $0.6645 but has since rebounded to $0.6675 in the European morning.

European Markets
With Q1 GDP data already released, the eurozone's March external balances and construction output are unlikely to impact the markets significantly.
The euro was largely confined to a $1.0855 to $1.0875 range in North America yesterday and is trading within a similar range today.
Sterling also traded in a narrow range but showed more strength than the euro, staying mostly within the $1.2695 to $1.2725 range and holding above $1.27 for most of the session. It remains within this range today.

American Markets
Several Fed officials are scheduled to speak today, though their views are already well understood. April's existing home sales data will be released tomorrow, with a small increase expected following a 4.5% decline in March. Additionally, the FOMC minutes will be published.