Other Markets - Foreign Exchange
Dollar index largely unchanged; Eyes jobs data and Powell speech for further clarity As on : 04-Dec-24  12:05

The dollar index is staying largely unchanged in early Asian hours on Wednesday awaiting further clarity on Federal rate stance from the upcoming US ADP jobs and non farms data this week. Data released Tuesday showed the number of job openings in the country increased sharply, indicating that the labor market remains solid. October JOLTS report revealed 7.74 million job vacancies, surpassing expectations of 7.48 million and improving from September's 7.37 million. Meanwhile, US 10-year Treasury bond yield rose to 4.229% while dollar index edged marginally higher at around 106.36 on the day. Investors will keep an eye on the US ADP employment change report, final S&P global services PMI, ISM services PMI and the Fed's beige book, which are due later on Wednesday. The Federal Reserve's (Fed) Chair Jerome Powell is scheduled to speak later in the same day. Meanwhile, among basket currencies, EURUSD and GBPUSD are quoting slightly higher at $1.0517 and $1.2682 respectively.

Powered by Capital Market - Live News