USDJPY
EURUSD
USDJPY
Dollar holds above 98 after weak US payrolls – MUFG
Key Takeaways (30s Read)
The Dollar Index (DXY) remains supported at 98.000 after a weak payroll report.
The recent payroll report has confirmed ongoing softness in the US labor market, yet it is not weak enough to trigger an early rate cut by the Federal Reserve. As a result, the Dollar Index (DXY) has found support at 98.000, establishing a solid base. The market's performance will continue to be in focus, particularly as economic indicators based on labor data influence the Fed's policy. There are indications that a rate cut could be avoided, contributing to the stability of supply and demand for the dollar. Traders should closely monitor the 98.000 level as a critical threshold.
AI Analyst
AI Opinion
"The movement of the Dollar Index is heavily reliant on upcoming US economic indicators and the actions of the Federal Reserve. With the continuous weakness in the labor market, focus will be on whether concerns about a rate cut will intensify. The 98.000 support level is crucial for traders, and a break below could trigger further bearish pressure. Conversely, if the 98.000 level holds, it could lead investors to support the dollar. Overall, the market remains highly uncertain, necessitating cautious trading."
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