Higher-than-expected US Jobless Claims figures raised concerns over the US labor market. Markets await Nonfarm Payrolls, Unemployment Rate, and Average Hourly Earnings on Friday. The odds of a rate cut in June remain high. The US Dollar Index is mildly lower on Thursday and presently trading around 104. Mainly driven by weak weekly Initial Jobless Claims figures. The focus is set on Friday’s Nonfarm Payrolls where investors will get a clearer picture of the labor market.
US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.
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