Struggling dollar awaits US jobs report for potential relief – August 4, 2017

4-8-2017

Dollar Awaits U.S. Job Report. The dollar wallows near a 2-1/2-year low versus the euro and a 7-week trough versus the yen. After weak US ISM data U.S. dollar is awaiting the non-farm jobs report due at 1230 GMT for potential relief. Economists polled by Reuters expect U.S. employers to have added 183,000 jobs in July, down from 222,000 in June.

GBP Near 9-mnt Low Vs Euro After BoE Dovish Message. Sterling slid down after the Bank of England voted 6-2 to keep interest rates at current record lows 0.25% and lowered its forecasts for growth, inflation and wages, disappointing investors who expected more hawkish messaging.

Gold Weaker Ahead Of U.S. Jobs Report. After hitting a six-week high earlier this week gold prices ended the U.S. day session modestly lower on Thursday. Although, the present postures of the dollar index and the Euro currency are bullish for the precious metals markets, a non-farm jobs report later on this Friday is likely to shake up many markets, including gold.

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