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The US dollar index (DXY) hints at a swing low ahead of NFP
The US dollar was the strongest major currency on Wednesday, supported by rising US yields and softer import/export data (which points to a softer global economy). And whilst the prices paid component of the ISM services PMI softened to a 20-month low of 68.8, it remains historically high relative to its long-term average of 59.8 - which suggests the aggressive Fed tightening is yet to make an impact on the inflationary forces of the robust services sector. chart NFP in focus for traders tomorrow: The main economic event for the dollar this week is tomorrow's NFP report. There was some excitement that it may come ... (full story)
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- Posted: Oct 5, 2022 11:38pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,357
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