USD Index turns negative around 105.00 as investors digest US NFP – by pabspiovano DollarIndex Currencies Majors NFP Employment
The US economy added more jobs than expected in December., which tracks the greenback vs. a bundle of its main competitors, gives away initial gains and returns to the negative territory below the 105.00 mark on Friday.The index quickly leaves behind the earlier uptick to 4-week highs in the 105.60/65 band and slips back to the sub-105.00 region as investors continue to digest the publication of theOn the latter, the US economy added 223K jobs in December and the jobless rate ticked lower to 3.
Other than Payrolls, the US calendar will show the ISM Non-Manufacturing, Factory Orders and speeches by Atlanta Fed R.Bostic , FOMC Governor L.Cook and Richmond Fed T.Barkin .The dollar falters in the area of multi-week peaks, as the latest NFP release seems to have torpedoed the Fed’s tighter-for-longer narrative.
Furthermore, the tight labour market, still elevated inflation and the resilient economy are also seen supportive of the firm message from the Federal Reserve and its hiking cycle.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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