US dollar bears move in ahead of critical NFP – by fx_ross DollarIndex Currencies
President Thomas Barkin said on Tuesday that the United States is facing "post-war-like" inflation. The remarks made by officials have followed the comments from Fed Chair Jerome Powell who spoke at the Jackson Hole central banking symposium in Wyoming late last week that left the door wide open for ongoing rate hikes into mid-2023, which prompted a wave of US dollar strength.
The showdown for the start of the month, however, will be Friday's jobs data. The analysts at TD Securities explained that ''employment likely continued to advance robustly in August but at a more moderate pace following the booming 528k print registered in July. High-frequency data, including Homebase, point to still above-trend job creation.'' The analysts also look for the UE rate to drop by a tenth for a second consecutive month to 3.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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