- Analytics
- News and Tools
- Market News
- Strong NFP report to keep the Dollar bid – ING
Strong NFP report to keep the Dollar bid – ING
The US Dollar Index (DXY) is trading in negative territory near 112.50 after having registered gains for six straight days. However, today's US Nonfarm Payrolls (NFP) may come in above 200K, adding fuel to the USD rally, economists at ING report.
NFP can keep Fed away from pivot
“There's a growing perceived chance that the Fed will be the last major central bank to throw in the towel and arrest its tightening cycle, and we think this notion can provide quite sustainable support to the Dollar into the new year.”
“The focus will shift back to data as US October payrolls are released. We see room for a slightly above-consensus headline read (220K vs a conservative 195K), which should overshadow the widely expected 0.1% increase in the unemployment rate and marginal slowdown in wage growth.”
“We expect today's release to leave markets still searching for a higher Fed terminal rate, ultimately keeping the Dollar bid.”
“A decisive break above 113.00 in DXY appears on the cards: if not today, probably in the coming days.”
See – NFP Preview: Forecasts from 10 major banks, further significant job growth
© 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.
Bank transfers
