Created
: 2024.10.02
2024.10.02 03:44
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.
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, Bostic, 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.
Created
: 2024.10.02
Last updated
: 2024.10.02
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy