US Dollar Index looks cautious around 101.70 ahead of NFP By pabspiovano DollarIndex Currencies Majors
Market participants remain vigilant ahead of the publication of the key May’slater on Friday, motivating the index to hover around the 101.70 zone amidst the generalized lack of direction in the global markets.
As indicated, Nonfarm Payrolls for the month of May are due later in the NA session seconded by the Unemployment Rate and the ISM Non-Manufacturing. Additionally, the final Services PMI is also due followed by the speech by FOMC’s Governor L.Brainard .The dollar came under pressure in the past session and returned to the area below the 102.00 mark against a cautious backdrop ahead of the release of May’s labour market figures.
In the meantime, the Fed’s divergence vs. most of its G10 peers coupled with bouts of geopolitical effervescence, higher US yields and a potential “hard landing” of the US economy are all factors still supportive of a stronger dollar in the next months.Eminent issues on the back boiler Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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