Gold rises more than 1% as dollar softens

12 on broad-based dollar softness but the single currency is struggling to gain ground against other European currencies as French debt concerns persist, ING's Francesco Pesole says in a note. " French right-wing presidential candidate Marine Le Pen's fiscal tightening promise won't be enough to turn the tide for French government bonds and the euro might keep suffering for longer, he says. com) 1000 GMT - Upcoming data could show Canadian employment rose over 10,000 in September after roughly 42,000 job losses in August but this shouldn't have a major impact on the Canadian dollar, ING's Francesco Pesole says in a note.

The figures are unlikely to boost the prospect of the Bank of Canada raising interest rates in October, although should support a move by December, which is fully priced in, he says. S. dollar. 4227 Canadian dollars.

420," Pesole says in a note. The data are due at 1230 GMT. 82% in August, according to the median estimate of seven economists polled by The Wall Street Journal. That would be the highest reading this year and since the government revamped its consumer-price index data series in January.

Prices of food segments rose in September, with pressures broadening to include perishables and edible oils, among others, DBS economists say. Retail pump prices haven't been adjusted further, though other fuel products such as nonsubsidized liquefied petroleum gas, diesel and aviation turbine fuel are up on the year, DBS adds. "More important for the policy outlook will be whether price pressures are becoming more generalized," ING economists say. The data is expected to be released Monday.

-Iran talks were progressing well. The announcement raised prospects of a potential solution to the Middle East conflict and calmed market nerves. The iTraxx Europe Crossover index of euro high yield credit default swaps falls 8 basis points to 308bps, S&P Global Market Intelligence data show. com) 0931 GMT - High-yield corporate bonds offer attractive yields and their underlying quality is good, UBP's Filipe Alves da Silva says in a note.

" The all-in yield on high-yield assets has greater capacity to absorb shocks, he says. com) 0927 GMT - The dollar has limited scope to fall as bond markets and risk sentiment remain fragile while the Federal Reserve is expected to raise interest rates again in December, ING's Francesco Pesole says in a note. The dollar has lost some ground as the sharp rise in Treasury yields pauses but there are no signs of broader correction in the currency, he says. S.

" ING expects a slightly stronger dollar in the near term. 535 Monday. com) 0923 GMT - The Bank of England is likely to raise interest rates in November followed by another increase in February, preventing sterling from falling, Commerzbank's Volkmar Baur says in a note. K.

" This supports the case for raising rates given recent stickier-than-anticipated inflation, he says. The market is pricing two rate increases by February so the potential tightening might not have much impact on sterling. However, Commerzbank had previously expected sterling to weaken towards year-end and now expects it to trade sideways versus the euro in coming months. 8445 Wednesday, LSEG data show.

com) 0738 GMT - Gold gains more than 1% as a softer dollar and lower oil prices support the metal, while market participants reassess the inflation and interest-rate outlook. 70 an ounce. S. 20, making dollar-denominated commodities less expensive for overseas buyers.

According to CME's FedWatch tool, traders are pricing in a 19% chance of a rate hike in October and an 83% probability of an increase in December. Investors will next focus on the University of Michigan's preliminary consumer sentiment data due later Friday. K. -Iran peace talks were progressing well.

S. would not attack Iran before the mid-term elections in November, easing concerns about a potential escalation in the Middle East conflict. 4 a barrel. 431%, Tradeweb data show.

com) 0716 GMT - The dollar pair is likely to remain rangebound against the yen in the near term, trading largely within the 155-160 yen range, LGT Private Banking Asia says in a note. Risk of intervention in support of the yen should help cap the dollar's gains, the private bank says. Repatriation from European fixed-income holdings by Japanese investors could help the yen, LGT adds. S.

and Japan and continued overseas investment by Japanese investors should limit the scope for the yen's gains, LGT says. 25. S. Treasury yields which fell significantly after Thursday's strong Treasury auction.

French government bonds, which have been intensively sold in recent days amid concerns over next year's budget deficit, lead the rally. 460%, according to Tradeweb. There is no government bond issuance in the eurozone on Friday, but France, Spain and Portugal will release details of their respective auctions next week, although Commerzbank strategists say that Portugal could skip next week's auction window in lieu of a syndication. com) 0648 GMT - Bitcoin recovers slightly after reaching a two-and-a-half-week low on Thursday as risk appetite improves on hopes for diplomatic progress in the Middle East conflict.

S. won't attack Iran before November's midterm elections, citing "productive" discussions. Oil prices ease, sending the dollar lower and providing some support to bitcoin. 9% to $82,468 after hitting as low as $80,391 Thursday, LSEG data show.

Thursday's declines were in part due to a stronger dollar and rising Treasury yields as oil prices jumped on concerns about an escalation in the Middle East. com) (END) Dow Jones Newswires October 09, 2026 06:02 ET (10:02 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.