Forex Signals – Dollar Edges Lower Tone

FxPremiere.com | The dollar has given back some of its recent gains in early European trade Friday, but remains near multi-month peaks against its major peers ahead of the release of the widely-watched monthly payrolls report.

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At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 92.558, having climbed to a three-month high during the previous session.

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USD/JPY was up 0.1% at 111.57, just below a new 15-month high, EUR/USD edged down to 1.1846, just above a three-month low, GBP/USD rose 0.1% to 1.3771, near a fresh two-and-a-half month low, while the risk-sensitive AUD/USD was flat at 0.7469, near the lowest since December.

Forex Signals on Forex – Dollar Edges Higher

Applications for U.S. state unemployment insurance fell last week by more than expected, according to data released Thursday, with initial jobless claims falling by 51,000 to 364,000, reaching a fresh pandemic low as the economy reopens.

This followed Wednesday’s private payrolls release, which showed U.S. companies hired 692,000 new employees in June, more than the 600,000 generally expected.

US Dollar Up Ahead of Friday’s US Payrolls Report

This brings into focus the official U.S. nonfarm payrolls release, due at 8:30 AM ET (1230 GMT), which is expected to show another weighty rise of 700,000 jobs in June, an improvement from the 559,000 jobs added the previous month.

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Dollar Edges Lower Ahead

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