The US dollar remains on the decline ahead of non-farm payroll data release
The US dollar fell on Friday as investors awaited the release of the US July non-farm payrolls data tonight, which is expected to provide clues to the Federal Reserve's future interest rate cuts. Volkmar Baur, a foreign exchange analyst at Deutsche Bank, stated in a report that the market is expected to be turbulent again, with the non-farm payrolls data to be released tonight expected to show a slowdown in job growth in July. He said, "Especially after Federal Reserve Chairman Powell emphasized the labor market is now more of a focus for the Fed on Wednesday." He added, "We already got a taste of it yesterday." He pointed out that data from the Institute for Supply Management (ISM) yesterday showed further contraction in manufacturing activity and employment in July, leading to a weaker US dollar
Jinshi Data, August 2nd news: The US dollar fell on Friday as investors anticipated clues to future Fed rate cuts from the US July non-farm payrolls data to be released tonight. Volkmar Baur, a foreign exchange analyst at Deutsche Bank, stated in a report that the market is expected to be turbulent again, with the non-farm payrolls data to be released tonight expected to show a slowdown in job growth in July. He said, "Especially after Fed Chairman Powell emphasized on Wednesday that the labor market is now more of a focus for the Fed." He added, "We already got a taste of it yesterday." He pointed out that data from the Institute for Supply Management (ISM) yesterday showed further contraction in manufacturing activity and employment in July, leading to a weaker US dollar