The USD Index holds slight gains below 100.00 after weak ADP and ISM data, with markets eyeing Friday’s Nonfarm Payrolls report.
The US Dollar stabilized on Thursday as geopolitical uncertainty in the Middle East curbed risk appetite. Earlier losses followed weaker-than-expected ADP employment data, which showed a rise of just 44K jobs in July, missing forecasts of 70K and down from 98K in June. The ISM Services PMI also fell short, printing at 54.1 versus the 54.5 estimate.
Markets are now focused on upcoming labor market data, including weekly jobless claims and Unit Labor Costs, ahead of Friday’s Nonfarm Payrolls report. The USD Index remains below 100.00 but clings to marginal gains, reflecting cautious trading sentiment.
Currency movements this week show the USD weakening most against the Australian Dollar, while the Japanese Yen and other majors exhibit mixed performance. Traders await further cues from economic releases and geopolitical developments.