US Dollar Index to close the week around 107.00 unless a big miss on NFP – ING NFP DollarIndex Fed Banks
data in the US should show a slowdown in hiring, but economists think only a big miss can trigger a dovish re-pricing in the Fed's rate expectations, and the dollar should be able to consolidate around recent highs.“We think that only a very weak reading today can trigger a sizeable re-pricing in the market’srate expectations given the Bank’s explicit strong focus on fighting inflation and CPI numbers next week will surely carry a much bigger weight.
“We expect the dollar to consolidate around current levels today, and DXY to close the week around 107.00.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.