Anxious Investors Await NFP, USD Losing Direction! - Kakiforex.com - Financial Market Media No. 1 in the World Anxious Investors Await NFP, USD Losing Direction! Anxious Investors Await NFP, USD Losing Direction!
InstaForex

September 3, 2021

Anxious Investors Await NFP, USD Losing Direction!

 The monarch currency continues to trade under pressure ahead of the release of U.S. NFP jobs data that is expected to show a decline, shattering hopes for a faster stimulus easing from the Federal Reserve (Fed).


In the Asian session, the dollar index, which measures the strength of the greenback against a major group, traded near a one -month low of 92.18.


The number of U.S. jobless claims continued to show a decline in the past week, and layoffs reportedly fell to their lowest level in more than 24 years.


However, the greenback dollar failed to react to this data, and continued to trade lower as the market took cautious steps to place positions ahead of the NFP.



The US economy is expected to register an increase of 750,000 jobs in August, while the unemployment rate is down to 5.2% from the previous reading of 5.4%.


Commodity currencies continued to take advantage of the weakness of the US dollar to climb higher, with the Aussie dollar trading around 0.7400 and the kiwi strengthening at 0.7110 in the Asian session.


While the Canadian dollar also traded higher with additional support from a stronger rise in world crude oil prices towards the weekend.


The euro strengthened around a one -month high, while the pound climbed to a two -week high against the USD by trading strong at 1.38400.