Here is what you need to know on Tuesday, October 10:
Financial markets trade mixed early Tuesday as investors keep an eye on headlines surrounding the Israel-Hamas conflict. The US Dollar (USD) Index clings to small recovery gains slightly above 106.00 following Monday's pullback, while US stock index futures trade virtually unchanged in the early European session. In the absence of high-impact data releases, market participants will pay close attention to speeches from central bankers, including European Central Bank (ECB) President Christine Lagarde.
US Dollar price today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.08% | 0.18% | 0.20% | 0.38% | 0.44% | 0.45% | 0.07% | |
| EUR | -0.08% | 0.10% | 0.12% | 0.29% | 0.39% | 0.35% | -0.02% | |
| GBP | -0.19% | -0.09% | 0.02% | 0.20% | 0.27% | 0.27% | -0.13% | |
| CAD | -0.21% | -0.12% | -0.03% | 0.17% | 0.27% | 0.23% | -0.14% | |
| AUD | -0.38% | -0.31% | -0.21% | -0.18% | 0.10% | 0.06% | -0.33% | |
| JPY | -0.43% | -0.38% | -0.29% | -0.24% | -0.10% | -0.03% | -0.41% | |
| NZD | -0.48% | -0.40% | -0.30% | -0.27% | -0.09% | 0.01% | -0.42% | |
| CHF | -0.03% | 0.05% | 0.15% | 0.18% | 0.36% | 0.41% | 0.40% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
Following a bearish opening, Wall Street's main indexes gained traction and closed in positive territory despite escalating geopolitical tensions. Dovish comments from Federal Reserve officials made it difficult for the USD to find demand in the American session and helped the risk mood improve. Meanwhile, the benchmark 10-year US Treasury bond yield opened sharply lower below 4.7% following a three-day weekend.
In a statement released on Tuesday, Israel Defense Forces said that a dozens of fighter jets attacked more than 200 targets in Gaza overnight. Meanwhile, the United Nations Relief and Works Agency (UNRWA) reported that shelters in Gaza were at 90% capacity, with more than 137,000 people seeking refuge.
During the Asian trading hours, Chinese property developer Country Garden said that it was facing significant uncertainty about asset disposals and warned that it might not be able to meet offshore debt obligations. Despite this development, Hong Kong's Hang Seng Index gained nearly 1% on a daily basis, while Shanghai Composite lost more than 0.5%.
After starting the week on the back foot and edging lower in the European trading hours, EUR/USD staged a rebound and closed flat on Monday. Early Tuesday, the pair stretched higher and stabilized above 1.0550.
GBP/USD found support after dropping toward 1.2150 on Monday and ended the day above 1.2200. In the European morning, the pair lost its recovery momentum and went into a consolidation phase below 1.2250.
Bank of Japan (BoJ) is considering raising the fiscal year (FY) 2023/24 core Consumer Price Index (CPI) estimate to near 3% from the 2.5% forecast in July, Kyodo news agency reported on Tuesday, citing some sources with knowledge of the matter. USD/JPY showed no immediate reaction to this headline and was last seen trading in positive territory near 149.00.
Gold benefited from safe-haven demand and falling US Treasury bond yields and reached its highest point in 10 days above $1,860 before retreating slightly below that level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD retreats toward 1.0850 on modest USD recovery
EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.
GBP/USD holds above 1.2650 following earlier decline
GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.
Gold climbs to multi-week highs above $2,400
Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.
Chainlink social dominance hits six-month peak as LINK extends gains
-637336005550289133_XtraSmall.jpg)
Chainlink (LINK) social dominance increased sharply on Friday, exceeding levels seen in the past six months, along with the token’s price rally that started on Wednesday.
Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.