DXY Movements and the Impact of Non-Farm Payrolls (NFP) on USD
Monday, 8 July 2024, 15:25
DXY Analysis:
The Dollar Index (DXY) experienced a decline last week, influenced by softer US economic indicators and Federal Reserve communication.
Expert Insights:
- OCBC's FX analysts Frances Cheung and Christopher Wong emphasized the significance of this shift in market sentiment.
The forthcoming release of the Non-Farm Payrolls (NFP) report is expected to play a crucial role in shaping the trajectory of the US Dollar.
Investors are closely monitoring these developments to devise effective currency trading strategies amidst market uncertainty.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.