The US dollar showed a decline in trading yesterday Wednesday as the market focus was on the JOLTS report for the assessment of the labor sector in the United States (US) which was a concern for the central bank before.
Federal Reserve (Fed) Chairman Jerome Powell at the Jackson Hole symposium yesterday stressed the risky job market, giving an important signal for monetary policy setting.
Examining the published data, the number of job openings in July recorded a lower than expected figure, which was 71.8 million compared to 73.8 million.
This added to concerns ahead of the September FOMC meeting which will take place in a few weeks.
The next employment component to watch is the ADP employment report in the New York session tonight before the main focus is on the NFP report on Friday.
If the overall employment data shows a gloomy figure, the higher the expectation for an interest rate cut by the Fed in September.
As expected by analysts, the US dollar currency retreated again from the strengthening that was displayed last Tuesday which was seen as temporary.
In fact, the US dollar moved weaker than the yen and Swiss franc for the safe-haven currency group category.
Other major currencies began to show a slow recovery to take advantage of the US dollar's depreciation situation.
However, investors will remain cautious in anticipation of trading risks at the end of the week ahead of the release of important data.
