Wednesday witnessed the US Dollar Index (DXY) extending its gains, despite a backdrop of mixed signals regarding the US economy. While the service sector demonstrated robust performance, lower-than-anticipated private sector employment figures introduced a degree of uncertainty to the market. However, the overarching sentiment towards the US economy remains resilient.
Attention now turns to forthcoming labor market data, including Nonfarm Payrolls, Wage inflation, and Unemployment figures slated for release on Friday. These key indicators are poised to offer deeper insights into the current state of the US economy.
Market participants will keenly observe these metrics, utilizing them to recalibrate their expectations concerning potential rate cuts by the Federal Reserve (Fed).
