US recap: EUR/USD falls as dollar continues climb
Oct 14 (Reuters) -The dollar index rose in holiday-thinned trade on Monday, hitting a two-month high as haven currencies retreated, U.S. shares advanced and investors awaited this week's offering of economic data and U.S. corporate earnings.
Federal Reserve Bank of Minneapolis President Neel Kashkari said more rate cuts likely lie ahead as inflation approaches the U.S. central bank's 2% target.
The euro slipped ahead of Tuesday data and an expected 25 basis point cut by the European Central Bank on Thursday.
Chinese Foreign Minister Wang Yi called on all parties involved in tensions between Israel and Iran to exercise caution and avoid escalating the situation.
OPEC cut its forecast for global oil demand growth in 2024 and also lowered its projection for next year.
Treasury market was closed due to a U.S. holiday.
The S&P 500 rose 0.78%.
Oil slid more than 2% after OPEC lowered its demand forecasts.
Gold slipped 0.22%, hurt by the broadly stronger dollar.
Copper in London was down over 1% on lack of details on China's stimulus plans.
Heading toward the close: EUR/USD -0.37%, USD/JPY +0.52%, GBP/USD -0.12%, AUD/USD -0.49%, DXY +0.4%, EUR/JPY +0.18%, GBP/JPY +0.21%, AUD/JPY +0.01%.
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Editing by Burton Frierson
Reporting by Robert Fullem
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