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Will the US employment suddenly deteriorate? On the eve of the non-agricultural employment data, this data is of interest tonight.
Economists predict that the number of initial jobless claims for the week ending June 29 may slightly increase from 233,000 the previous week to 235,000, and this potential upward trend may indicate a cooling job market.
Chicago Fed Chairman: Interest rates should be considered lowered in the coming months due to sustained inflation decline.
Golsby believes that interest rate cuts should be considered in the next few months.
Benefit of the Doubt: US Consumer Confidence and Elections
Despite widespread expectation for the U.S. economy to be in recession in 2024, that fate has been avoided thanks to a resilient U.S. consumer. Yet it is difficult to square this undaunted spending with consumer confidence and sentiment readings that are lackluster at best.
USD/CHF Price Analysis: Climbs to Five-week High Above 0.9000
The USD/CHF extended its rally for the second consecutive trading day after registering gains of 0.47% on Monday. It traded at 0.9042 on Tuesday, above its opening price of 0.20%.
Forex Today: US Data and FOMC Should Dictate the Price Action
The USD Index (DXY) maintained its bearish stance in place for the fourth session in a row, although navigating tight ranges and always below the 106.00 hurdle. A busy calendar on July 3 will see the release of weekly Mortgage Applications in the first turn, seconded by the ADP Employment Change and Balance of Trade.
US Dollar Trims Gains Following Powell's Inflation Remarks
On Tuesday, the US Dollar, as per the DXY Index, showed a decrease in gains to hover near 105.70. The Greenback is influenced by rising JOLTS figures and Jerome Powell's comments about the inflation outlook.