US Dollar touch weaker as US jobs report is just around the corner

Share:

• The Greenback holds on to weekly gains despite a three-day losing streak.
• Traders are front running expectations of a weaker US Dollar after the US jobs report as rumours point to a disappointing print.
• US Dollar Index retreats but could still eke out twelfth week of gains. 

The US Dollar (USD) has been easing a touch in the past hour or so, as traders brace for that final moment that has been keeping every trading desk on edge throughout the week. The monthly US jobs report is due this Friday and will finally confirm or contradict what earlier numbers this week have been suggesting: the US economy and its job market are starting to slow down. There is a very fine nuance here between slowing down instead of contracting: expectations are that numbers will still be positive, pointing to economic growth, though in a less convincing way than previous months.