Strong US employment data and the Hamas attack on Israel strengthen the USD

Saturday's attack by Hamas on Israel caused the prices of crude oil contracts to increase by several percent on Monday morning. As time passed, the scale of the increase decreased slightly and approx. 10:00 was +2,78%. in the case of WTI on NYMEX and +2,41 percent in the case of Brent on ICE.

The price of gold contracts on the COMEX, which on Friday was at its lowest level since March this year, jumped by about 1% this morning. Price of contracts for natural gas on NYMEX last week it broke upwards its local maximums from the past 7 months, grew today at approx. 10:00 by 1,68 percent and was the highest since January this year.

Surprisingly strong NFP data

Friday's report from the US labor market turned out to be surprisingly strong. The number of new jobs in the non-agricultural sector increased to 336. (expected 170 thousand). The August result was revised upwards from 187. up to 227 thousand The unemployment rate remained at the same level of 3,8 percent.

The Fed's Michelle Bowman reiterated her view that inflation is still too high despite "substantial" progress in lowering it, and the Fed will likely need to tighten monetary policy further. Fed Fund futures price in an 18% chance of a 25bp rate hike in November and a total of 38% by December.

The US dollar to Israeli shekel exchange rate rose to its highest level since 2016. It reached its highest level in history today USD exchange rate against Turkish lira. After three sessions of growth, the EUR/USD rate was falling today at approximately 10:05 by 0,64 percent USD / JPY exchange rate, which last week was shot down by an alleged intervention from a level above JPY 150 reached for the first time in a year, remains stubbornly slightly below this barrier (today around 10:10 -0,12%).

Slight weakening of the zloty

The Polish zloty weakened slightly this morning (EUR/PLN +0,1%, USD/PLN +0,7% around 10:10).

Courses Bitcoin against the US dollar returned below the USD 28000 level (-0,36 percent around 10:25).

Israel's TA-35 stock market index fell 6,5 percent on Sunday. near its local minimums from the beginning of the year, and this morning its decline was slight.

On Friday, after the US labor market data, the S&P 500 i DJIA have grown to their own highest levels in a week (S&P 500 +1,18%, DJIA +0,87%), and the Nasdaq 100 (+1,7%) reached its highest level in over 2 weeks. Today approx. 10:10 contracts on the main indexes of the US stock market fell by 0,7-0,9 percent.

The main indices in Europe also dropped at the beginning of the new week (DAX -0,77 percent, CAC 40 -0,75 percent. approx. 10:25).

The WSE performed relatively well (WIG-20 +0,94% around 10:40). The share price of Cyfrowy Polsat was the lowest since 2012. Among the components of mWIG 40 and sWIG 80, the prices of shares of Grenevia, Sunex and Photon Energy NV reached their new historical lows, while the price of shares of Auto Partner was the highest in its history today.

Source: Wojciech Białek, OANDA TMS Brokers