- The US dollar index rose to a four-month high as investors sought safe-haven assets amid geopolitical tensions. The index, which measures the greenback against a basket of major currencies, reached 94.50, its highest level since June.
- In response to the dollar’s strength, gold prices fell to a two-month low of $1,790 per ounce. The precious metal is often seen as a hedge against inflation and economic uncertainty, but has been trending downwards as the US dollar gains.
- Despite the dollar’s strength, US stock markets showed resilience, with the S&P 500 and Dow Jones Industrial Average reaching record highs. Tech stocks also saw gains, with the Nasdaq Composite closing at a new all-time high.
Read more at Barchart: What to Expect From Automatic Data Processing’s Next Quarterly Earnings Report