Today’s US Nonfarm Payrolls are the big event of the week. Consensus NFP may be enough to send the Dollar higher, economists at ING report.
Waiting for payrolls to jump back into the Dollar
A strong read could easily put markets back on a bearish track and reignite aggressive Dollar buying.
There is a decent chance that markets are positioned for a modestly sub-consensus read in jobs figures today, and even a consensus figure could send the Dollar higher across the board.
DXY may well return above 107.00 as early as today, or early next week.
See – NFP Preview: Forecasts from seven major banks, losing momentum
Source: https://www.fxstreet.com/news/a-consensus-read-in-nfp-could-be-enough-to-put-the-dollar-back-on-appreciation-path-ing-202310060756