Dollar steadies ahead of US consumer price data
The US dollar held against most currencies on Monday, ahead of of the release of key inflation data in the US.
The market will turn to the release of the US consumer price index data on Tuesday, which shows inflation trends in the country.
Analysts see that the recent spike in inflation will lead the Federal Reserve to taper its monetary policy.
Fed Chairman Jerome Powell stated recently that the central bank might start reducing the size of its bond-buying program before the end of this year.
The dollar index fell against a basket of major currencies by less than 0.1% to 92.6 points as of 17:30 GMT, after hitting a high of 92.8 points and a low of 92.5 points.
Gold edges higher as dollar eases
Gold prices rose on Monday, as the US dollar held against most currencies, ahead of of the release of key economic data.
The market will turn to the release of the US consumer price index data on Tuesday, which shows inflation trends in the country.
Analysts see that the recent spike in inflation will lead the Federal Reserve to taper its monetary policy.
Fed Chairman Jerome Powell stated recently that the central bank might start reducing the size of its bond-buying program before the end of this year.
The dollar index fell against a basket of major currencies by less than 0.1% to 92.6 points as of 17:38 GMT, after hitting a high of 92.8 points and a low of 92.5 points.
As of 17:39 GMT, gold spot prices rose 0.1% to $1,793.9 an ounce, with a high at $1,800.2 and a low at $1,784.4.
Oil extends gains, hits more than 1-month high
Oil prices rose on Monday, amid concerns over the US supply due to Hurricane Ida repercussions, while the US dollar held against most currencies.
Most of production in the Gulf of Mexico remained idle since the end of August due to the severe damage caused by Hurricane Ida.
The Gulf of Mexico encompasses 17% of the US total production, which means a shortage of supply.
The dollar index fell against a basket of major currencies by less than 0.1% to 92.6 points as of 17:03 GMT, after hitting a high of 92.8 points and a low of 92.5 points.
As of 17:03 GMT, WTI crude October futures rose 0.9% to $70.4 a barrel.
Brent November futures rose 0.7% to $73.4 a barrel.
Dow Jones rises, snaps 5-session losing streak
The main US stock indices opened mostly higher on Monday, and snapped a 5-session losing streak, within recovery from the biggest weekly loss in 3 months.
The market will turn to the release of the US consumer price index data on Tuesday, which shows inflation trends in the country.
Analysts see that the recent spike in inflation will lead the Federal Reserve to taper its monetary policy.
Fed Chairman Jerome Powell stated recently that the central bank might start reducing the size of its bond-buying program before the end of this year.
As for stocks, Dow Jones rose 0.6% or 216 points to 34,824 as of 14:15 GMT, and S&P 500 rose 0.1% or 3 points to 4,462, while Nasdaq fell 0.5% or 76 points to 15,039.