Mixed labor market data may impact Fed rate cut decision, potentially boosting demand for the dollar.

From Investing.com: 2024-10-03 03:26:00

The debate over the size of the November Fed rate cut continues as Chairman Powell hints at sticking with 25bps cuts, despite market expectations for a 50bps move. Mixed labor market data has been reported, with ADP surprising on the upside with a 143k increase, but the focus remains on the non-farm payrolls figure expected to rise by 140k on Friday. Weak labor market data could boost demand for the dollar, potentially reversing recent trends and impacting the dollar/yen pair towards the 142.49 level, while strong data may help maintain recent gains and lead to a rally in dollar/yen to the 146.65-147.71 area.



Read more at Investing.com: Could Friday’s Data Tip the Balance in Favour of a 50bps Fed Rate Cut?