Dollar Steady. Below-Forecast U.S. Jobs Data Could Cause Falls.
The dollar was trading steady on caution before U.S. November jobs data at 8:30 a.m. Eastern time, when a weak reading could cause a temporary fall, ING’s Chris Turner said in a note.
Below-forecast non-farm payrolls could upset the recent trend of dollar strength since Donald Trump’s election victory, although it is unlikely to be long before the dollar rises again, he said.
U.S. payrolls are expected to bounce higher after the previous month’s weak figure due to weather and strikes. A rise of less than 200,000 jobs would probably be considered a “bad number,” while a rise above 300,000 would be a “good number,” Turner said.
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