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US Dollar Holds Steady Ahead of US Economic Data Release
Summary: According to sources, the US dollar held steady ahead of the release of US employment data, which may provide clues for the timing of the next rate cut by the Federal Reserve. The December 'small non-farm' ADP employment figures and November JOLTs job openings will be released at 21:15 and 23:00 Beijing time tonight. Also ...
According to sources, the US dollar held steady ahead of the release of US employment data, which may provide clues for the timing of the next rate cut by the Federal Reserve. The December 'small non-farm' ADP employment figures and November JOLTs job openings will be released at 21:15 and 23:00 Beijing time tonight. Also to be released is the ISM services data. However, the key focus of the market this week remains on the US non-farm payrolls report to be released on Friday. If further signs of weakness in the labor market emerge, it may prompt the market to anticipate the timing of the next rate cut. LSEG data shows that the market currently prices in a 50% probability of a rate cut in March, but it is not fully pricing in a rate cut until June.
