Forex Today: The UK labour market report takes centre stage
|The Greenback extended its monthly recovery on the back of the persevering risk-off mood in the FX universe, while investors warmed up for key upcoming US data releases as well as Fed speakers.
Here is what you need to know on Tuesday, October 15:
The US Dollar Index (DXY) advanced to fresh tops further north of the 103.00 barrier on the back of the generalized offered stance in the risk complex. The NY Empire State Manufacturing Index is due, seconded by speeches by Daly and Kugler.
Further selling interest dragged EUR/USD to new lows in the sub-1.0900 region amidst extra advance in the US Dollar. Wholesale Prices in Germany are next on tap along with the Economic Sentiment in the euro area and Germany.
Mirroring its risky peers, GBP/USD traded slightly on the defensive around the 1.3050 region ahead of key data on the UK calendar. The publication of the UK’s jobs report will be the salient event.
USD/JPY added to Friday’s advance and approached the key 150.00 barrier following further improvement in the Greenback. Industrial Production and Capacity utilization come next on the calendar.
AUD/USD resumed its downtrend and came close to 0.6700 after two consecutive days of gains. The Westpac Leading Index and the speech by the RBA’s Hunter are due on October 16.
Prices of WTI succumbed to demand concerns from China and a discouraging report from the OPEC, revisiting the area well south of the $74.00 mark per barrel.
Gold prices retreated modestly to the proximity of the $2,640 region per ounce troy amidst the stronger US Dollar. Silver prices left behind two consecutive daily advances and briefly revisited the sub-$31.00 zone per ounce.
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