According to Jinshi Data, the dollar is trading steadily as investors remain on the sidelines ahead of the critical U.S. non-farm payroll report. Economists expect an increase of 110,000 jobs in June, down from 139,000 in May, and the unemployment rate is expected to rise from 4.2% to 4.3%.
J.P. Morgan stated that this could bring concerns about economic growth back into focus and increase pressure on the Federal Reserve to accelerate its interest rate cuts. However, compared to employment, inflation is further from the target, so the Federal Reserve should maintain a cautious stance on rate cuts.