US DOLLAR GOING NOWHERE ON QUIET MONDAY AHEAD OF NFP
- The US Dollar trades for most part in the green against major peers.
- Markets brace for quite some headline risks ahead of the US Jobs Report on Friday.
- The US Dollar Index still orbits around 104.00 though could be seen choosing direction after this week.
The US Dollar (USD) is facing a very chunky week with traders needing to be on point if they want to survive the carnage ahead. Two main elements this week will be the hearing of the US Federal Reserve Chairman Jerome Powell, who is set to face Senator Elisabeth Warren and other politicians in Congress and the US Jobs Report on Friday. Meanwhile headline flow out of the Chinese National People’s Congress and US President Joe Biden’s State of the Union could trigger some intraday volatility.
On the economic front, all eyes of course will be on the usual suspects ahead of the US Jobs Report with the ADP Nonfarm Employment number and the JOLTS Job Openings report on Wednesday. As always, no connection between ADP and Nonfarm Payrolls on Friday, though enough to create volatility besides the more than five US Fed speakers besides Jerome Powell that are due to release comments on the markets.
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