The dollar extended its monthly recovery thanks to persistent risk-off sentiment in the FX universe, as investors prepared for the release of key US data and interventions by Fed speakers.
Here’s what you need to know on Tuesday, October 15:
The US Dollar Index (DXY) advanced to new highs beyond the 103.00 barrier thanks to the widespread risk aversion stance. New York’s Empire State manufacturing index is expected to be released, followed by speeches by Daly and Kugler.
Renewed selling interest dragged EUR/USD to new lows in the region below 1.0900 amid further advance in the US Dollar. Wholesale prices in Germany and economic sentiment in the Eurozone and Germany are next on the agenda.
Mirroring its risk peers, GBP/USD traded slightly defensively around the 1.3050 region ahead of key data on the UK calendar. The release of the UK employment report will be the highlight event.
USD/JPY added to Friday’s advance and approached the key 150.00 barrier following further improvement in the Dollar. Industrial production and capacity utilization are next on the calendar.
AUD/USD resumed its downtrend and approached 0.6700 after two consecutive days of gains. Westpac’s leading index and RBA’s Hunter speech are expected on October 16.
WTI prices succumbed to demand concerns from China and a discouraging OPEC report, revisiting the zone well below the $74.00 per barrel mark.
Gold prices retreated modestly to near the $2,640 per troy ounce region amid the strength of the US Dollar. Silver prices left behind two consecutive daily advances and briefly revisited the area below $31.00 per ounce.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
