The US dollar is expected to rise for a third straight day on Thursday (January 8), but trading remains cautious as investors position themselves ahead of Friday's Nonfarm Payrolls (NFP) report. Recent US data releases have sent mixed signals: the labor market appears to be cooling, while service sector activity surprised with an increase—keeping the Fed's outlook balanced.
Latest levels: DXY ~98.74, EUR/USD 1.1679, GBP/USD ~1.3456, USD/JPY ~156.7, AUD/USD ~0.6698, NZD/USD ~0.5754.
Markets continue to interpret the labor market picture as "no hiring, no firing," while stronger service sector data suggests the economy will end 2025 on a stronger footing—leading to a tug-of-war between rate cut expectations.
Geopolitical news has faded in its direct impact on markets, but policy risks remain a concern—especially with potential rulings related to global tariffs, which could quickly revive dollar volatility.
In Europe, the euro remained calm as investors adjusted to inflation and yields, while in Asia, the yen traded in a tight range as traders were reluctant to take large bets ahead of key US data. The Australian and New Zealand dollars also weakened slightly as risk appetite cooled. (Arl)
Source: Newsmaker.id
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