{"id":106834,"date":"2024-10-08T02:15:00","date_gmt":"2024-10-07T22:15:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=106834"},"modified":"2024-10-08T00:17:20","modified_gmt":"2024-10-07T20:17:20","slug":"market-drivers-us-session","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session\/10\/08\/market-updates\/","title":{"rendered":"Market Drivers; US Session"},"content":{"rendered":"\n<p>The US Dollar Index (DXY) traded mixed on Monday as investors continued to grapple with rising geopolitical tensions in the Middle East and the implications of Friday&#8217;s strong jobs report. Despite higher US yields, the DXY remained near recent peaks above 102.00.<br><strong><br>Key Economic Events for Tuesday, October 8:<\/strong><br><br>US: NFIB Business Optimism Index, Balance of Trade, RCM\/TIPP Economic Optimism Index, API Crude Oil Inventory Report, Fed speeches by Bostic, Musalem, Kugler, and Collins<\/p>\n\n\n\n<p><br>Eurozone: German Industrial Production, ECB speeches by Schnabel and McCaul<br>UK: BRC Retail Sales Monitor<\/p>\n\n\n\n<p><br>Japan: Household Spending, Current Account, Average Cash Earnings<br><br>Australia: RBA Minutes, NAB Business Confidence, RBA official speech by  Hauser.<br><br><strong>Currency Pair Performance:<br><\/strong><br>EUR\/USD: Continued to decline, testing recent lows near 1.0950.<br>GBP\/USD: Extended its five-day losing streak, approaching four-week lows near 1.3060.<br>USD\/JPY: Surrendered initial gains to fresh highs above 149.00.<br>AUD\/USD: Retraced further, hitting three-week lows near 0.6740.<br><br><strong>Commodities<\/strong>:<br><br>WTI Crude Oil: Prices rose further, approaching the 200-day SMA above $77.00 amid Middle East geopolitical concerns.<\/p>\n\n\n\n<p><br>Gold: Prices declined to the $2,640 level due to rising US yields and expectations for a smaller Fed rate cut.<br>Silver: Prices tested three-day lows near $31.40, reversing a four-day winning streak.<\/p>\n\n\n\n<p><br>Overall, investors remain cautious as geopolitical risks and the Fed&#8217;s monetary policy outlook continue to dominate market sentiment<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US Dollar Index (DXY) traded mixed on Monday as investors continued to grapple with rising geopolitical tensions in the Middle East and the implications of Friday&#8217;s strong jobs report. Despite higher US yields, the DXY remained near recent peaks above 102.00.Key Economic Events for Tuesday, October 8:US: NFIB Business Optimism Index, Balance of Trade, &hellip;<\/p>\n","protected":false},"author":13,"featured_media":53151,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6923,6968,6871],"class_list":["post-106834","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-ecb","tag-eurusd","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/106834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=106834"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/106834\/revisions"}],"predecessor-version":[{"id":106851,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/106834\/revisions\/106851"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53151"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=106834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=106834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=106834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}