America’s Roundup: US dollar climbs to 10-week peak, Walls Street ends higher, Gold edges lower, Oil falls 2%

Market Roundup

•French 12-Month BTF Auction2.730%,2.746%               

•French 3-Month BTF Auction 3.138%,3.167% previous    

•French 6-Month BTF Auction   3.138%  ,3.016% previous             

•US Consumer Inflation Expectations (Sep)   3.0% previous

Looking Ahead Economic Data(GMT)

•04:30   Japan Capacity Utilization (MoM) (Aug)   2.5%    previous

04:30     Japan  Industrial Production (MoM) (Aug) -3.3%  forecast, -3.3% previous             

Looking Ahead Events And Other Releases(GMT)

•No Events Ahead

Currency Summaries

EUR/USD: The euro dipped  against dollar  on Monday as investors awaited upcoming ECB meeting. The ECB is widely expected to cut rates on Thursday, with over 90% of economists polled predicting a 25-basis-point reduction to 3.25% after September's inflation dipped below 2%; most expect another 25 bpscut in December. The tone of the monetary policy statement and press conference will be key for expectations. The euro zone's data highlights are final September HICP,August trade and industrial production, and the German ZEW survey. Immediate resistance can be seen at 1.0961(38.2%fib), an upside break can trigger rise towards 1.1000(Psychological level).On the downside, immediate support is seen at 1.0900(50%fib), a break below could take the pair towards 1.0880 (Lower BB).

GBP/USD: The pound held near a one-month low against the dollar on Monday ahead of wage growth and inflation data this week that could help shape the Bank of England's next move at its policy review meeting next month. Expectations that sticky inflation would keep the BoE on a gradual interest rate cut path relative to its peers - the Federal Reserve and the European Central Bank  had underpinned the pound's outperformance this year. Money markets currently see an 85% chance of a 25 basis point interest rate cut from the BoE's November policy meeting, and are evenly split about another cut by the end of the year.Money markets currently see an 85% chance of a 25 basis point interest rate cut from the BoE's November policy meeting, and are evenly split about another cut by the end of the year.Immediate resistance can be seen at 1.3095(38.2%fib), an upside break can trigger rise towards 1.3159(50%fib).On the downside, immediate support is seen at 1.3024(23.6%fib), a break below could take the pair towards 1.3000(Psychological level).

USD/CAD: The Canadian dollar fell for a seventh-straight day against its U.S. counterpart on Thursday as investors weighed prospects of the Federal Reserve pausing its rate cuts and awaited domestic jobs data that could guide bets on the Bank of Canada outlook. U.S. consumer prices rose slightly more than expected in September amid higher food costs. Still, the annual increase of 2.4% was the smallest in more than 3-1/2 years.U.S. consumer prices rose slightly more than expected in September amid higher food costs. Still, the annual increase of 2.4% was the smallest in more than 3-1/2 years. The loonie was trading 0.3% lower at 1.3750 to the U.S. dollar, or 72.73 U.S. cents, after touching its weakest level since Aug. 7 at 1.3775. Immediate resistance can be seen at 1.3805(23.6%fib), an upside break can trigger rise towards 1.3817 (Higher BB).On the downside, immediate support is seen at 1.3758(Daily low), a break below could take the pair towards 1.3740 (38.2%fib).

USD/JPY: The dollar strengthened against the yen on Monday   as investors focussed on U.S. Federal Reserve officials' comments for further rate cut cues. Investors will watch out for comments from Fed officials this week for more hints on the upcoming rate cuts, along with U.S. retail sales data.Data on Friday showed unchanged U.S. producer prices last month, cementing the case for quarter-point U.S. interest-rate cuts at upcoming Fed policy meetings.  Traders see a roughly 90% chance of the Fed cutting rates by 25 basis points at its November meeting, and 10% chance of it leaving rates unchanged. The dollar climbed to its highest since early August to 149.96 yen in thin trading. It was last up 0.5% at 149.89 yen. Immediate resistance can be seen at 149.49(23.6 %fib), an upside break can trigger rise towards 150.00(Psychological level). On the downside, immediate support is seen at 147.61(38.2 %fib), a break below could take the pair towards 147.00(Psychological level).

Equities Recap

European stocks ended Monday's choppy session at a two-week high ahead of corporate earnings and a European Central Bank policy decision later this week, while some caution prevailed after China's weekend stimulus promises underwhelmed.

UK's benchmark FTSE 100 closed up by 0.47 percent, Germany's Dax ended up by 0.69percent, France’s CAC finished the day up by 0.32 percent.

U.S. stocks ended higher with a boost from technology shares amid light Columbus Day trading on Monday, while crude prices dipped as investors parsed signs of economic softness in China and girded themselves for a string of high-profile corporate earnings.

Dow Jones closed up  by  0.47% percent, S&P 500 closed up by 0.77% percent, Nasdaq settled up by 0.87%  percent.

Commodities Recap

Gold prices eased on Monday as broad economic stimulus measures in China, the biggest bullion consumer, failed to invoke investor confidence and a U.S. dollar rally to two-month highs capped upside momentum.

Spot gold fell 0.2% to $2,649.98 per ounce by 14:35 p.m. ET (1835 GMT), having hit its highest in over a week earlier in the session.U.S. gold futures settled eased 0.4% lower at $2,665.6.

Oil prices fell 2% on Monday as OPEC again lowered its outlook for 2024 and 2025 global oil demand growth while China's oil imports fell for the fifth straight month.

Brent crude futures settled $1.58, or 2%, lower at $77.46 per barrel. U.S. West Texas Intermediate crude futures fell $1.73, or 2.29%, to $73.83 per barrel. Brent had gained 99 cents last week, while WTI climbed $1.18.