According to Jin10 data, the US dollar is trading steadily as investors remain on the sidelines ahead of the key US non-farm payroll report. Economists expect an increase of 110,000 jobs in June, down from 139,000 in May, with the unemployment rate expected to rise from 4.2% to 4.3%.
JPMorgan stated that this may bring concerns about economic growth back into focus and increase pressure on the Federal Reserve to accelerate its rate-cutting timetable. However, compared to employment, inflation is further from the target, so the Federal Reserve should maintain a cautious stance on rate cuts.