US Dollar Index: DXY extends post-NFP advances past 104.00 ahead of US ISM Services PMI – by anilpanchal7 DollarIndex PMI RiskAversion Fed NFP
by 339K versus 190K expected and 294K prior . It’s worth noting, however, that the Unemployment Rate also rose to 3.7% from 3.4% prior, versus 3.5% market forecasts. It should be noted, that the Average Hourly Earnings eased whereas the Labor Force Participation Rate remain the same as previous.
On the contrary, US President Joe Biden signed the debt-ceiling bill and avoided the ‘catastrophic’ default. Also negative for the DXY were concerns suggesting slower rate hikes from the major central banks. Furthermore, the global rating agencies remain cautious about the US financial market credibility and prod the US Dollar despite the price-positive move on Friday.
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