EUR/USD - Review from 02.10.2024

Financial and commodity markets analytics


Amid the strengthening of the US dollar, accompanied by a fall in stock indexes on Tuesday, the EUR/USD pair continued to decline to the lower boundary of the range (1.1000-1.1020). The catalyst for this movement, among others, was the escalation of conflict in the Middle East. The 1.1000-1.1020 range acts as support. However, it is necessary to consider the publication of data on the US labor market, expected this week. The first to be published will be the indicator from ADP (news is expected on Wednesday). Against the backdrop of this news, a possible increase in price volatility can be expected, with updates to local minimums/maximums previously reached.