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Forex Signal – Dollar index edges higher, NFP report
Forex Signal – Dollar index edges higher, NFP report FxPremiere.com – The dollar edged higher versus other major currencies recovering from the previous session’s losses as investors with the highly-anticipated U.S. employment report due later in the day for further indications on the strength of the job market.
The greenback weakened after processor ADP reported on Thursday that U.S. private employers added 158k jobs in June 2017, well below expectations. Forex Signal – Dollar index edges higher, NFP report
A separate report showed that initial jobless claims unexpectedly rose by 4k to 249k last week.
The data came after minutes of the Fed Reserve’s June meeting showed a lack of consensus among policymakers over the outlook for inflation and how it could impact the future pace of interest rate increases.
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Fed hiked rates at its June meeting with three in 2018, but the subdued inflation outlook has since raisedon Fed will be able to stick to its planned tightening path.
EUR/USD eased 0.11% to 1.1417.
The single currency had found support on ECBs June meeting showed that officials discussed removing the easing bias from its latest monetary policy statement, before deciding vs it.
GBP/USD edged 0.11% lower to 1.2960, as forex traders were also looking ahead to manufacturing production due later in the day.
USD/JPY advanced 0.46% to trade at 113.76, the highest since May 16.
The U.S. dollar index. updates.