US Dollar Gains Broadly as Markets Await Fed Minutes

The US Dollar has advanced against a basket of major currencies, with the Dollar Index (DXY) retaking the 102.00 level as market participants await the release of the latest FOMC meeting minutes. The greenback’s strength was evident against the Euro, which faced additional pressure from concerns over French debt, as well as the British Pound, Japanese Yen, and Australian and New Zealand Dollars.

Oil Prices Climb on Supply Disruption Fears

Crude oil prices rose for a second day due to growing concerns over potential supply disruptions from multiple fronts. Persistent geopolitical risks in the Middle East, highlighted by reports of a Houthi missile interception over Saudi Arabia, threatened regional energy flows, while potential storm activity in the US also contributed to supply jitters.

Precious Metals Show Resilience Amid Headwinds

Gold held onto recent gains, finding some support from easing Treasury yields even as the US Dollar strengthened. Concurrently, silver prices traded below the $61.00 per troy ounce mark as the market digested the impact of surging oil prices and broader currency fluctuations.