Mid-Week Financial Market Highlights (October 9)

US Dollar Holds Strong:

The US Dollar Index (DXY) remained stable above 102.00, with traders cautious ahead of important US data releases, including FOMC Minutes and US CPI data.
Investors are still expecting a 25 basis point rate cut in November.

Key US Data to Watch:

FOMC Minutes (Wednesday), US CPI data (Thursday).
Other notable releases: Wholesale Inventories, weekly Mortgage Applications, and US crude oil supply report (EIA).
Speeches from several Federal Reserve officials (Jefferson, Logan, Barkin, Goolsbee, Williams, Collins) will also attract attention.

EUR/USD Struggles to Break 1.1000:

The Euro faced minor losses and couldn’t break the 1.1000 level.
Germany’s Trade Balance data and a speech from ECB’s Elderson are upcoming.

GBP/USD Rebounds Slightly:

The British Pound made modest gains, ending a five-day losing streak.
UK GDP data will be released on October 11.

USD/JPY Bounces Back:

The US Dollar recovered against the Japanese Yen, moving above the 148.00 mark.
Japan's Machine Tools Orders report is next on the calendar.

AUD/USD Declines Further:

The Australian Dollar continued to drop, nearing the 0.6700 support level.
RBA’s Kent is scheduled to speak.

Crude Oil and Gold Prices:

WTI crude oil briefly hit two-month highs over $78.00 per barrel, but prices fell due to the potential Middle East ceasefire.

Gold prices fell for the fifth consecutive day, hitting three-week lows near $2,600 per ounce. Silver also dropped to three-week lows, approaching $30.00 per ounce.