Ella 
Here’s what you need to know on Monday, October 9:
Investors sought safety at the start of the week as geopolitical tensions escalated after Israel officially declared war on the Palestinian Hamas group. The USD Index opened with a bullish gap and is currently trading in positive territory below 106.50. While U.S. bond markets will remain closed for the Columbus Day holiday, the New York Stock Exchange and Nasdaq stock markets will be open for business. U.S. stock futures are currently down between 0.5% and 0.6%, reflecting risk-off sentiment.
According to latest reports, the Israeli military has deployed around 100,000 reserve troops near Gaza, while fighting continues in at least three areas of southern Israel. Over the weekend, Hamas fired a barrage of rockets from the Gaza Strip, killing at least 700 people.
EUR/USD started the week on a negative note and continued lower during the European morning. As of press time, EUR/USD was down 0.4% on the day at 1.0545.
GBP/USD turned negative on Monday, slipping below 1.2200 after a third consecutive positive day on Friday.
Crude oil prices were sharply higher, with West Texas Intermediate crude jumping above $87 before easing slightly below $86, still posting daily gains of nearly 4%. USD/CAD held steady around 1.3650 in early trade on Monday despite broad dollar strength, as the commodity-sensitive Canadian dollar benefited from higher oil prices.
The yen’s safe-haven status kept it firm against the greenback on Monday, with USD/JPY trading within a narrow channel just above 149.00.
Gold opened with a bullish gap and was up over 1% on the day at $1,852.
