Payrolls Report May Trigger Dollar Move After FOMC Ambiguity
The upcoming US payrolls data could prompt a dollar reaction after uncertainty sparked by Kevin Warsh at the July FOMC meeting. Analysts expect a 70k rise versus 80k consensus, with unemployment ticking up to 4.3%.
DXY
Before today’s US payrolls data, markets are on edge after Kevin Warsh’s ambiguous remarks at the July FOMC meeting heightened the potential for outsized reactions to economic releases. The report’s outcome may sway the dollar in the near term.
A note from FX analysts calls for a 70,000 increase in nonfarm payrolls, just below the consensus forecast of 80,000. They also see the unemployment rate ticking higher to 4.3%. Such a scenario, they suggest, could trigger a small dollar move.
Source: FXStreet Forex News