During today's Asian trading, the US dollar rose slightly against major currencies, continuing yesterday's rally caused by increased demand for safe haven assets amid Iran's missile attack on Israel.
The US Dollar Currency Index (DXY), which tracks the dynamics of the dollar against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona) rose by 0.07% to 101.26. Yesterday, the index jumped by 0.41%, reaching its highest level since September 19. Experts said that so far, tensions in the Middle East have mainly affected oil prices, but further developments are likely to depend on Israel's reaction and whether it strikes military installations or Iran's oil industry. Today, investors will focus on the ADP employment report for September, tomorrow the PMI indices in the service sector for September will be released, and on Friday a key report on the labor market will be presented. According to forecasts, the number of employed, according to APD estimates, rose by 120 thousand after an increase of 99 thousand in August. Experts warned that if the new data exceeds forecasts, it may reduce the bets of aggressive Fed easing, which will put pressure on gold. Statements by Fed policymakers will also be in focus.
The New Zealand dollar rose 0.2% against the US dollar, losing some of its previously earned positions. Gradually, attention is shifting to the meeting of the Reserve Bank of New Zealand (RBNZ), which will be held next week, with markets estimating an 87% probability of an interest rate cut by 50 basis points.
The yen fell by 0.25% against the US dollar amid increased demand for the US currency and statements by Japanese Economy Minister Ryosei Akazawa, who said that Prime Minister Shigeru Ishiba expects the Bank of Japan to make careful economic assessments when raising interest rates again.