U.S. Dollar Advances On Middle East Tensions, Strong ADP Data
02 Ottobre 2024 - 3:39PM
RTTF2
The U.S. dollar firmed against its major counterparts in the New
York session on Wednesday, amid heightened geopolitical tensions in
the Middle East and stronger-than-expected ADP employment data for
September.
Israeli Prime Minister Netanyahu vowed to retaliate against Iran
following missile strikes on Tel Aviv.
Iran fired nearly 200 missiles at Israel on Tuesday in
retaliation for the killing of Hezbollah leader Hassan Nasrallah
last week.
Iran warned that any Israeli response to the missile attacks
would trigger further escalation of the conflict.
Data from payroll processor ADP showed that private sector
employment climbed by 143,000 jobs in September after rising by an
upwardly revised 103,000 jobs in August.
Economists had expected private sector employment to advance by
120,000 jobs compared to the addition of 99,000 jobs originally
reported for the previous month.
The greenback strengthened to near a 3-week high of 1.1032
against the euro and a 6-day high of 0.8507 against the franc, off
its early lows of 1.1082 and 0.8449, respectively. The currency is
seen finding resistance around 1.08 against the euro and 0.90
against the franc.
The greenback climbed to a 5-day high of 146.26 against the yen
and a 6-day high of 0.6261 against the kiwi, from its early lows of
143.42 and 0.6313, respectively. The currency is poised to
challenge resistance around 149.00 against the yen and 0.60 against
the kiwi.
The greenback rose to 1.3245 against the pound. Immediate
resistance for the currency is seen around the 1.28 level.
The greenback recovered to 0.6877 against the aussie following
the data. The currency is likely to locate resistance around the
0.64 level.
In contrast, the greenback fell to a 5-day low of 1.3472 against
the loonie. The currency may challenge support around the 1.32
level.
Grafico Cross US Dollar vs CHF (FX:USDCHF)
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