The US dollar index remained under pressure below 99 on Thursday, as investors awaited fresh labor market data that could shape expectations for future Federal Reserve policy moves.
Markets are focused on Thursday's weekly jobless claims and Friday's closely watched nonfarm payrolls report. The greenback came under renewed selling pressure on Wednesday after a string of disappointing economic indicators raised concerns about the strength of the US economy.
Notably, the ADP employment report showed the private sector added just 37K jobs in May—well below forecasts and marking the weakest reading in over two years.
Meanwhile, the ISM services PMI signaled contraction in May for the first time in nearly a year, reflecting a steep decline in new business and rising input costs likely exacerbated by recent tariff increases.
Adding to the pressure, President Trump continued to call for interest rate cuts, though Fed officials have so far signaled a cautious stance amid elevated uncertainty.
Source: Trading Economi
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