The Greenback alternated gains with losses amidst higher yields on Monday, while investors continued to digest Friday’s Payrolls against the backdrop of steady prudence in response to rising geopolitical jitters in the Middle East.
Here is what you need to know on Tuesday, October 8: The US Dollar Index kicked off the week in an irresolute tone, although it managed to keep the trade near recent peaks well north of the 102.00 barrier. The NFIB Business Optimism Index is due along with Balance of Trade results, the RCM/TIPP Economic Optimism Index, and the API’s weekly report on US crude oil inventories. In addition, the Fed ’s Bostic, Musalem, Kugler, and Collins are due to speak.
USD/JPY surrendered initial gains to fresh tops past the 149.00 yardstick amidst the vacillating Greenback and higher US yields. Household Spending, the Current Account figures and Average Cash Earnings are all due. AUD/USD accelerated its monthly retracement and revisited three-week lows near the 0.6740 zone. The publication of the RBA Minutes will take centre stage seconded by the NAB Business Confidence index and the speech by the RBA’s Hauser.
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