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As Wall Street prepares for the U.S. election, the market is cautious, and the safe-haven demand for gold and the U.S. dollar is rising.
Oil prices dipped slightly on Wednesday ahead of the US election, after rising 2% as OPEC+ delayed production hikes, easing supply concerns.
The Canadian dollar rose from a two-year low on Monday before the US presidential election, boosted by stronger factory activity data on Friday.
The latest report showed 254,000 jobs added in September, surpassing the forecast of 147,000, while the unemployment rate fell to 4.1%.
Oil prices rose over $1 a barrel on Friday, reducing weekly losses amid rising Middle East tensions from reports of Iran's planned strike on Israel.
US stock indexes fell on Wednesday due to a drop in chip stocks, but the S&P 500 is still on track for its sixth month of gains.
Goldman Sachs predicts that if Trump imposes tariffs after his election, the euro may fall below parity against the dollar, with a drop of 8-10%.
Gold prices hit a record high on Wednesday due to uncertainties from the US election and the Middle East conflict, despite a strong dollar.
The ADP report showed that the number of new jobs in the U.S. private sector reached 143,000 in September, exceeding analysts' expectations of 128,000.
Oil prices rose Tuesday as the U.S. plan to buy 3 million barrels for SPR offered support, with Middle East developments remaining a key market focus.
The yen fell to a three-month low on Monday after Japan's ruling coalition lost its parliamentary majority, likely slowing rate hikes.
U.S. job strength and Trump’s election gains boosted the dollar, pushing the yen near 150 and fueling intervention expectations.
Sterling remained flat Friday ahead of Labour’s budget next week, with UK assets pressured by the party’s stance on potential tax changes.
The Canadian dollar rebounded from an 11-week low on Thursday after the BOC cut rates significantly, while the greenback extended its gains.
