DOLLAR INDEX AT ONE-WEEK LOW AMID CAUTIOUS MOVES AHEAD OF JOBS REPORT

Published on Sep 06, 2024 14:27

The US dollar index slips to a one-week low on Friday as investors brace for US jobs data scheduled to be released later in the global day. The US Labor Department is scheduled to release its more closely watched report on employment in the month of August, which includes both public and private sector jobs. The Nonfarm Payrolls (NFP) report will play a key role in influencing market expectations about the Federal Reserve`s (Fed) policy path and determining the next leg of a directional move for the DXY. The yield on the benchmark ten-year note, which moves opposite of its price, decreased by 3.7 basis points to 3.731 percent, its lowest closing level in over a year. The dollar index also stayed cautiously lower below 101 mark, drifting lower for the third straight day and currently at 100.90, down 0.17% on the day.