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USD remains stable before the release of important job figures

05 Dec,2023
USD remains stable before the release of important job figures

Tuesday saw the greenback hover around a one-week high versus a basket of currencies, before of a barrage of employment figures that may defy investor projections over the outlook for interest rates.

A small early hit to the euro came from remarks made by ECB member Isabel Schnabel, who told Reuters that interest rate increases were out of the question in light of the recent "remarkable" decline in inflation.

The U.S. non-farm payrolls report for November is eagerly anticipated by investors on Friday. But prior to that, on Tuesday, the monthly JOLTS report—which includes hiring and firing statistics—arrives, and on Wednesday, the private-sector ADP survey is due.

The dollar index that gauges the greenback edged up 0.15%, hovering around one-week highs.

EUR/USD edged down 0.1% at $1.082.

GBP/USD muted at $1.2624.

USD/JPY muted at 147.11.

The biggest cryptocurrency in the world has increased in value by 150% so far this year, partly due to hopes that exchange-traded spot bitcoin funds (ETFs) would soon be approved by US regulators. This could let millions more investors to access the bitcoin market.

 

 

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