U.S. Dollar Extends Rise Amid Declining Prospects Of U.S. Fed Rate Cut, Middle East Tensions
==========

The U.S. dollar rose against major currencies in the Asian session on October 3, 2024, following stronger-than-expected private sector employment data from ADP, which reported a gain of 143,000 jobs in September, up from an upwardly revised 103,000 in August. Traders are cautious due to escalating Middle East tensions after Iran's missile attack on Israel, with multiple airstrikes reported in Beirut resulting in at least six deaths. The U.S. Labor Department's employment report is expected to show a 140,000 job increase for September, with the unemployment rate holding at 4.2%. The dollar reached a 1-1/2-month high of 147.24 against the yen and a 3-week high of 1.1032 against the euro. Japan's services PMI fell to 53.1 in September, and Prime Minister Shigeru Ishiba stated the country is not ready for further rate hikes. Upcoming economic data releases include U.S. jobless claims and PMI reports.

#UsDollar #FederalReserve #MiddleEast #EmploymentData #EconomicOutlook #Adp #Pmi #Japan #Iran #Israel

https://www.rttnews.com/story.aspx?Id=3479196