Once again, all eyes are on the US labour market report. Even a low number of new positions is unlikely to weigh on the US dollar, economists at Commerzbank report.
“Several hundred thousand jobs are likely to have been created in the US again in August. So there is not likely to be any evidence on the labour market of the economy slowing. And even if the data should be disappointingly low, it is questionable whether that will cause the Fed to deviate from its current course.”
“We would have to see clearer signs of an economic downturn in the US with the addition of more cautious comments on the part of the Fed to end the USD rally. As this is unlikely to be the case for now, as the labour market report will probably confirm today in our view, USD is likely to remain in demand.”
See – NFP Preview: Forecasts from eight major banks, employment growth still strong
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.