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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The dollar index fell to a 2-month low

April, 05 2023
watermark Economic news

On Wednesday, the dollar index fell to its lowest value in two months after labor market data confirmed the view that the US Federal Reserve may not need to raise the rate even more.


According to statistics released yesterday, the number of vacancies in the United States fell in February to the lowest level in almost 2 years, which indicates that a higher rate is beginning to worsen the situation in the labor market. The monthly Vacancy and Turnover Survey (JOLTS) report showed that the number of vacancies fell by 632 thousand to 9.9 million.


Against this background, the dollar index collapsed to 101,090 points and reached a 2-month low. Analysts believe that the JOLTS data may be the first signs of weakness in the US labor market.


On Friday, the monthly Non-Farm Payrolls employment report from the US Department of Labor will be published. These data are very important, because the future rhetoric of the Federal Reserve System will largely depend on them.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.