Dollar to rise if NFP report is strong and above expectations – Commerzbank
|Economists at Commerzbank discuss USD outlook ahead of Friday’s Nonfarm Payrolls report.
Fed to take action and raise the key interest rate again on strong US data
If the US labour market report for May is strong and above expectations, the Dollar could rise.
Yesterday, the rebound in the number of job openings (JOLTS Job Openings) already came as a surprise. Today, the market is therefore likely to look at the ADP index and the subcomponents on prices and employment from the ISM index to get a first picture of how the labour market held up in May. After all, if it remained strong, this increases the likelihood that the Fed will take action and raise the key interest rate again.
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