Sentiment improves slightly on US debt news


What you need to know on Thursday, October 7:

Major pairs traded alongside market sentiment. Equities fell in Asia and Europe, penalized by growth concerns. Concerns about bottlenecks were exacerbated by a 40% increase in gas prices in the UK as the energy crisis deepened. Rising inflationary pressures have added to the dismal mood.

Ahead of Wall Street’s close, market sentiment improved following news that Republican Senate Leader Mitch McConnell is considering proposing a short term extension, until December, at the debt ceiling. Wall Street reduced its intraday losses and ended the day mixed.

Gloomy data from the EU weighed on the shared currency, with EUR / USD settling at 1.1550. GBPUSD ended the day in the red around 1.3590. Commodity-linked currencies have reduced most of their intraday losses alongside US indices, with AUD / USD now trading in the 0.7270 price zone and USD / CAD around 1.2590.

USD / JPY is stable in the 111.40 area, while USD / CHF has stood at 0.9270.

Gold posted a modest intraday gain, changing course after hitting a new weekly low, ending the day at $ 1,764 per troy ounce. Crude oil prices retreat from recent highs, with WTI ending the day at $ 77.00 per barrel

The US ADP survey comes in at 568K, better than expected, hinting at a strong report on non-farm payrolls in the United States.

Ethereum price to hit all-time high at $ 4,500 as ETH bulls take over

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