The Greenback extended Monday’s optimism and advanced to two-day highs supported by rising geopolitical concerns ahead of key data releases and a slew of Fed speakers.
Here is what you need to know on Wednesday, October 2:
The US Dollar Index (DXY) surpassed the key 101.00 barrier amidst increasing safe haven demand in response to geopolitical concerns. The ADP Employment Change takes centre stage seconded by the weekly Mortgage Applications tracked by MBA and the EIA’s report on US crude oil inventories. In addition, the Fed’s Barkin, Hammack, Musalem, and Bowman are all due to speak.
EUR/USD plummeted to two-week lows near 1.1040 following the stronger US Dollar and the prevailing risk-off sentiment. The Unemployment Rate in the euro area will be published along with speeches by the ECB’s De Guindos, Buch, Elderson, and Schnabel.
In line with its risk-associated peers, GBP/USD tumbled to multi-day lows and revisited the 1.3240-1/3230 band on Tuesday. The next key data release in the UK will be the final S&P Global Services PMI on October 3.
USD/JPY rose marginally amidst a volatile session, which saw the Greenback pick up extra pace and global yields retreat further. The September’s Consumer Confidence gauge is due.
AUD/USD reversed three consecutive daily advances and revisited the 0.6860 zone following the stronger Dollar and the offered stance in the risk complex. The Ai Group survey will be the only release Down Under.
Prices of WTI advanced markedly to fresh highs around the $72.00 mark per barrel following Iran’s attack on Israel.
Gold prices regain composure on the back of safe haven demand and revisited the $2,670 zone per ounce troy. Silver prices followed suit, advancing to the vicinity of the $32.00 mark per ounce following two straight days of losses.
(This story was corrected on October 2 at 06:40 GMT to remove Bostic from Fed’s speakers on Wednesday.)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Information contained on this page is provided by an independent third-party content provider. This website makes no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact editor @pleasantgrove.business
