Dollar lower ahead of initial jobless claims release - London Business News | Londonlovesbusiness.com
Briefly

The U.S. dollar is experiencing pressure as markets speculate on the likelihood of interest rate cuts following disappointing job market data. Traders currently anticipate three further rate cuts within the year. Attention is focused on upcoming labor data, particularly an expected rise in jobless claims, which could indicate the labor market's strength. A significant increase in claims may bolster expectations for a softer monetary policy, impacting the dollar's value. Treasury yields may also fluctuate with new data and the nomination of a new Fed Governor.
The U.S. dollar faced pressure as traders anticipated interest rate cuts, particularly following disappointing job market data that dampened sentiment and market expectations.
Markets are pricing in the possibility of three additional interest rate cuts this year, influenced by recent labor data and its effect on monetary policy perceptions.
Upcoming labor data, including an anticipated rise in jobless claims to 221,000, will provide insights into the strength of the labor market and future monetary policy.
Treasury yields may be influenced by the release of new data and the nomination of a Fed Governor, with potential implications for interest rate expectations.
Read at London Business News | Londonlovesbusiness.com
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