The U.S. dollar was seen giving up its gains late Friday after the payrolls report showed that the US economy lost 33k jobs in September. The data remains distorted on account of the hurricanes, which also led to the unemployment rate falling to new lows alongside an increase in wages.
Over the weekend, the New Zealand election results were released. However the results were inconclusive which leaves the top two parties; Labor and Greens scrambling to build a coalition government. The NZ First, a populist party has emerged as the king-maker as a result.
Looking ahead, the US, Canadian and Tokyo markets are closed. Economic data today will be focusing on the industrial production data from Germany.
