The US Dollar trades sideways ahead of a very chunky data release on Thursday.
Markets are still worried about headwinds for Europe and the Nvidia subpoena.
The US Dollar Index retreats and flirts with a break below 101.00.

The US Dollar (USD) trades softer on Thursday, with a lot of data points set to be released in a condensed time span. The Greenback already eased on the back of the JOLTS Job Openings report on Wednesday, when the previous number was revised and the recent print for July came in below the estimation. It was enough for markets to price in more rate cuts by the Federal Reserve (Fed) and devalue the US Dollar on the back of narrowing the interest rate gap between the US and other countries.

On the economic data front, it will be up to experienced traders to navigate the set of data that will be released on Thursday to markets. The monthly ADP Employment Change for the private payrolls release and the weekly Initial/Continuing Jobless Claims stand out, which will move the US Dollar. The Purchasing Managers Index (PMI) Services data from the Institute for Supply Management (ISM) is also of note.

US DOLLAR FOCUS ON JOB’S DATA AHEAD OF FRIDAY’S NFP