Dollar rises ahead of U.S. jobs data
Odaily reports that the US dollar rose ahead of the release of the US non-farm payroll data. The non-farm payroll data may provide clues about the timing of the next Federal Reserve rate cut. According to a report by ING economist <name>, the risk balance tends to favor a rise in the US dollar, as potentially strong employment data may "prompt the market to price in the rate cut in March and could push the first fully priced-in rate cut to after June." If the data is weaker than expected, investors may reduce their long US dollar positions. However, ahead of the upcoming critical data and President <name>'s inauguration on January 20, these long positions may be rebuilt at better levels. (Gold Ten)
