Dollar Struggles as Payroll Data Looms
Thursday, 5 September 2024, 01:36
Payroll Data Pressures Dollar
At 04:35 ET (08:35 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 101.139. This decline is a continuation of the previous downward trend as it retreats from a two-week high of 101.79. The upcoming payroll data is expected to be pivotal for market sentiment.
Market Reaction Ahead of Payrolls
- The market is sensitive to upcoming employment data.
- A sharp movement in the Dollar is anticipated.
- Investors are keenly watching for shifts in monetary policy implications.
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.