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dxy

Daily Analysis GBPUSD - September 2023
September 08 2023

Daily Analysis GBPUSD - September 2023

On Thursday, the latest US employment data for September 1st showed Initial Jobless Claims at 216K, down from 229K previously, surpassing the expected increase of 234K. In Q2, US Unit Labor Costs rose to 2.2%, contrasting expectations of stability after the previous 1.6%. Despite this, the US Dollar (USD) remains strong, driven by a string of positive economic indicators. The US Dollar Index (DXY), measuring its performance against six major currencies, now hovers around 104.90, though slightly below Thursday's peak since April.

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Daily Analysis EURUSD - 8 September 2023
September 08 2023

Daily Analysis EURUSD - 8 September 2023

The USD Index (DXY), which measures the US Dollar against various currencies, has retreated from its highest level since March 9. This pullback is driven by profit-taking among bullish traders ahead of the China inflation data and G20 leaders’ summit this weekend. Additionally, declining US Treasury bond yields and improved stability in equity markets have weakened the safe-haven appeal of the dollar, benefiting the EUR/USD pair. However, expectations of the Federal Reserve (Fed) tightening policy further should support US bond yields and the USD.

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Payrolls increased and the unemployment rate dropped to 3.5% in Dec.
January 06 2023

Payrolls increased and the unemployment rate dropped to 3.5% in Dec.

According to the latest employment report, the US economy added 223,000 jobs in December 2022. This was lower than the upwardly revised increase of 256,000 jobs in November, but exceeded market expectations of 200,000.

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Weak Manufacturing Data and Steady Jobs Report
January 04 2023

Weak Manufacturing Data and Steady Jobs Report

ISM Manufacturing PMI down to 48.4 in December. JOLTS (Nov) 10.45M, forecast 10M, previous was 10.512M.

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