Dollar solidly bid as markets brace for Friday's jobs report - News Summed Up

Dollar solidly bid as markets brace for Friday's jobs report


Underpinning the dollar, Chicago Fed President Charles Evans said he would be "fine" with raising U.S. interest rates by year-end if U.S. economic data remained firm. On the economic data front, upbeat U.S. services sector activity offset a weaker-than-expected report on private-sector job growth ahead of Friday's jobs report. The employment report is expected to show 175,000 jobs were added last month, according to the median estimate of 100 economists polled by Reuters. The dollar was buying 103.52 yen, steady on the day and not far from a four-week high of 103.57 yen touched on Wednesday. Traders were pricing in less than a 20 percent chance that the Fed would raise interest rates as early as November, according to CME Group's FedWatch program.


Source: The Edge Markets October 06, 2016 00:33 UTC



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