Positive sentiment floating in the market with hopes for the reopening of the US federal government seems to have failed to support the recovery of the US dollar's performance.
On the contrary, the currency king showed further depreciation in value more significantly in the New York session yesterday when the market in America was also on holiday in conjunction with Veterans Day.
Concerns about the decline in the private employment sector after the report published last week have attracted the attention of investors.
ADP research on Tuesday said preliminary estimates showed that private employers lost an average of 11,250 workers per week in the 4 weeks ending October 25.
However, the main focus of the market is now on the development of the government shutdown situation which is showing signs of reaching its end.
The US Senate has approved the bill for funding the government and it will be sent to the House of Representatives before it needs to be signed by President Donald Trump.
Anticipating the government opening after this, Goldman Sachs expects the Bureau of Labor Statistics to publish new data tables between November 13 and 17.
The government is also likely to publish the jobs report a few days after the government reopens, likely around November 18 or 19.
The published data will be viewed as an important indicator, especially for the central bank in assessing the current economic situation before setting monetary policy ahead of the December meeting.
