The US labor market will be in the spotlight alongside Fed speakers

The greenback extended its optimism on Monday and advanced to two-day highs supported by rising geopolitical concerns ahead of key data releases and a flurry of Fed speakers.

Here’s what you need to know on Wednesday, October 2:

The US Dollar Index (DXY) broke through the key 101.00 barrier amid rising haven demand in response to geopolitical concerns. ADP Employment Change takes center stage, backed by weekly MBA-tracked Mortgage Applications and EIA’s US Crude Stocks report. In addition, the Fed’s Barkin, Bostic, Hammack, Musalem and Bowman are scheduled to speak.

EUR/USD fell to two-week lows near 1.1040 on the back of a stronger US dollar and prevailing risk-off sentiment. The eurozone unemployment rate will be published together with the speeches of De Guindos, Buch, Elderson and Schnabel from the ECB.

In line with its risk-on peers, GBP/USD fell to multi-day lows and revised the 1.3240-1/3230 band on Tuesday. The next key UK data release will be the latest S&P Global Services PMI on 3 October.

USD/JPY rose marginally amid a volatile session that saw the greenback pick up a further pace and global yields retreated further. The September consumer confidence indicator is scheduled.

AUD/USD reversed three consecutive daily advances and revised the 0.6860 area on the back of a stronger dollar and the position offered in the risk complex. The Ai Group survey will be the only Down Under release.

WTI prices rose significantly to new highs around $72.00 per barrel after Iran’s attack on Israel.

Gold prices are regaining their composure amid haven demand and revised the area of ​​$2,670 per troy ounce. Silver prices followed suit, settling near the $32.00 per ounce mark after two straight days of losses.