避险基调提振日元、美元；Kiwi Soft就业前报告。由于投资者青睐防御性策略，全球市场今天以温和的避险基调交易。由于没有计划发布重大数据，情绪而非基本面决定了基调，日元在表现板上名列前茅，而澳元和新西兰元则落后。

Risk-Off Tone Lifts Yen, Dollar; Kiwi Soft Before Jobs Report.Global markets traded with a mild risk-off tone today as investors favored defensive plays. With no major data releases scheduled, sentiment rather than fundamentals set the tone, pushing the Japanese Yen to the top of the performance board while the Australian and New Zealand Dollars lagged.

食糖期货交易价格约为每磅14.5美分，接近2020年12月以来的最低水平，市场基本面仍受巴西、印度和泰国强劲收成下全球盈余预期的主导。StoneX集团表示，在10月开始的销售年度，全球产量将超过消费量280万吨，扭转上一季度的赤字。巴西玉米乙醇产业的快速扩张增加了价格的下行压力，鼓励工厂将更大份额的甘蔗用于制糖。与此同时，油价下跌引发了人们的猜测，即印度本季度可能会批准出口，但用于乙醇生产的产量低于预期。

Sugar futures traded around 14.5 cents per pound, holding near their lowest since December 2020, with market fundamentals still dominated by expectations of a global surplus amid strong harvests in Brazil, India, and Thailand. Global production will exceed consumption by 2.8 million tons in the marketing year that began in October, reversing last season's deficit, according to StoneX group. The rapid expansion of Brazil’s corn ethanol industry has added downward pressure on prices, encouraging mills to allocate a larger share of cane to sugar production. At the same time, lower oil prices raised speculation that India could approve exports this season with lower-than-expected volumes diverted for ethanol production.

墨西哥消费者信心指数从9月份向下修正的46.4连续第二个月降至2025年10月的46.1。家庭对该国当前（40.8比41.3）和未来（46.8比47.6）的经济形势以及家庭购买大宗商品的能力（31.8比32.4）更为悲观。预期家庭经济状况指标（58.5比58.6）也有所恶化，而当前家庭状况略有改善（52.2比52）。与此同时，12个月的就业情况变化不大（47.7对47.6），但价格压力预计会有所缓解（17.4对17.7）。一年前，消费者信心指数为49.4。

Mexico’s consumer confidence index fell for a second consecutive month to 46.1 in October 2025 from a downwardly revised 46.4 in September. Households were more pessimistic about the country's current (40.8 vs 41.3) and future (46.8 vs 47.6) economic situation, as well as for households’ ability to make major purchases (31.8 vs 32.4). The indicator for the expected household economic situation (58.5 vs 58.6) also worsened while the current household situation improved slightly (52.2 vs 52). Meanwhile, employment in 12 months is seen little changed (47.7 vs 47.6) but price pressures are expected to ease a bit (17.4 vs 17.7). A year earlier, the consumer confidence index was higher at 49.4.

欧元保持稳定。尽管政府关门，美元仍保持弹性，并没有被令人失望的统计数据所吓倒。政府停摆将成为历史上持续时间最长的一次。

Euro Holds on by a Thread.The US dollar remained resilient despite a shutdown and was not deterred by disappointing statistics. The government shutdown is set to become the longest in history.