What you need to know on Friday, October 1:
Risk aversion once again dominated financial markets, although the US currency was not the only beneficiary. Gold prices rose steadily, while safe haven currencies received attention during the last trading session of the month.
The dollar has reached overbought conditions against most major rivals, with greater chances of a corrective decline.
Second quarter US Gross Domestic Product was revised up to 6.7% QoQ, slightly better than expected. However, employment-related data remains disappointing ahead of the nonfarm payroll report due out next week. US Federal Reserve Chairman Jerome Powell said that a good employment report could convince him that they have reached the employment threshold necessary to reduce financial support.
EUR / USD fell to a new 2021 low of 1.1562, while GBP / USD bottomed out at 1.3516. USD / JPY reversed course during US trading hours and settled at 111.34. Commodity currencies rallied well, although, in a broader perspective, the gains appear corrective.
XAU / USD added approximately $ 40.00 per troy ounce, ending the day around $ 1,756.00. Crude oil prices fell intraday, but ended with modest gains, with the WTI settling at $ 75.20 a barrel.
Wall Street tumbled early in the session but stabilized at bearish numbers after a modest bounce from intraday lows. Government bond yields retained monthly gains and settled at the upper end of their monthly range.
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