Weak U.S. Jobs Data Would Hit Dollar -- Market Talk

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Weak U.S. Jobs Data Would Hit Dollar -- Market Talk

Dow Jones09-02

0940 GMT - The dollar faces a hit from a potentially weak U.S. nonfarm payrolls report on Friday, ING says. Payrolls are expected to rise 162,000 in August and the unemployment rate is forecast to fall to 4.2% last month from 4.3% in July, according to a WSJ poll of economists. ING, however, expects payrolls to increase by just 125,000 and the unemployment rate to rise to 4.4%. "If so the dollar will be back to test recent lows as the pendulum swings back to a 50 basis-point Federal Reserve interest-rate cut in September," ING's global head of markets Chris Turner says in a note. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

September 02, 2024 05:40 ET (09:40 GMT)

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