Forex Today: UK jobs data in the limelight

The US Dollar (USD) has managed to regain some composure, leaving behind two daily drops in a row helped by rising US Treasury yields and reignited social/political concerns in France.

The US Dollar Index (DXY) has reclaimed the area above the key 102.00 barrier on Monday, setting aside part of last week’s decline. The ADP Employment Change Weekly is due next, seconded by Pending Home Sales, Housing Starts, Building Permits and the API’s weekly report on US crude oil inventories.

Renewed concerns in France have weighed on the single currency, prompting EUR/USD to fade part of its recent improvement and recede toward the 1.1200 region. The EMU’s Current Account results and Construction Output readings are next on tap, followed by the ZEW’s Economic Sentiment in both Germany and the bloc.

GBP/USD has given away part of its recent two-day recovery, meeting some decent support near the 1.3300 zone. The labour market report will take centre stage across the Channel.

USD/JPY has further extended its consolidative phase, this time leaving behind three daily drops in a row and advancing past the 158.00 hurdle. The Balance of Trade results will be the salient event on the Japanese docket.

Firm Chinese data releases have boosted AUD/USD, sending it to the vicinity of the key 0.7000 threshold, adding to Friday’s rebound. Next on the Australian calendar will be the flash S&P Global Manufacturing and Services PMIs on October 23.

Front-month WTI futures have met some fresh selling pressure on Monday, briefly piercing the $97.00 mark per barrel amid some profit-taking mood and traders’ assessment of developments in the Middle East, the Russia-Ukraine conflict, and the impact on Russian crude oil exports from US waivers on tariffs and sanctions.

Gold has added to Friday’s correction and retreated below the $4,150 mark per troy ounce on the back of the US Dollar’s rebound and higher US Treasury yields across the curve.