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Dollar May Gain Strength If Employment Data Exceeds Expectations
According to information from ChainCatcher, Chris Turner from ING stated in a report that the American currency tends to appreciate if the number of job openings in the October JOLTs report — scheduled to be released tonight — exceeds projections. Currently, the market is operating under the expectation that the Federal Reserve will implement a rate cut this week, although there is still caution regarding the possibility of further reductions.
Turner also pointed out that the market still prices any additional easing by the Fed in an unstable manner, which indicates a limit to the dollar's decline before the committee meeting. If the data from this Tuesday brings results above expectations, the dollar index (DXY) could advance to the 99.3 region.
#USDT
According to information from ChainCatcher, Chris Turner from ING stated in a report that the American currency tends to appreciate if the number of job openings in the October JOLTs report — scheduled to be released tonight — exceeds projections. Currently, the market is operating under the expectation that the Federal Reserve will implement a rate cut this week, although there is still caution regarding the possibility of further reductions.
Turner also pointed out that the market still prices any additional easing by the Fed in an unstable manner, which indicates a limit to the dollar's decline before the committee meeting. If the data from this Tuesday brings results above expectations, the dollar index (DXY) could advance to the 99.3 region.
#USDT
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