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Netherlands International: US Employment Data Key to Dollar Trend
Summary: In breaking news, analysts at Netherlands International stated in a report that the upcoming US non-farm payroll report will play a crucial role in determining whether the recent downward trend of the dollar will continue. Federal Reserve Chairman Powell believes that stubborn inflation and a stable labor market mean that current interest rates should remain ...
In breaking news, analysts at Netherlands International stated in a report that the upcoming US non-farm payroll report will play a crucial role in determining whether the recent downward trend of the dollar will continue. Federal Reserve Chairman Powell believes that stubborn inflation and a stable labor market mean that current interest rates should remain at a restrictive level. "Any unexpected downturn in the employment report will weaken his position and drive market pricing for a rate cut at the July meeting," he said, noting that unless employment data falls below expectations, the dollar may continue to consolidate before the US holiday on July 4th.
