The US Dollar has weakened in the lead-up to Friday's jobs report, following a drop in private-sector hiring that was reported on Wednesday. The
DXY
failed to recover after making contact with the resistance area of the ascending channel, and it has lost over 0.40%. It is now heading towards the support area of the channel, setting up an exciting scenario ahead of the NFP report scheduled for Friday. If the outcome of the report is better than expected, it could be a boost for the US dollar. However, this would also sustain the Fed's objective on its monetary policy campaign.
DXY
failed to recover after making contact with the resistance area of the ascending channel, and it has lost over 0.40%. It is now heading towards the support area of the channel, setting up an exciting scenario ahead of the NFP report scheduled for Friday. If the outcome of the report is better than expected, it could be a boost for the US dollar. However, this would also sustain the Fed's objective on its monetary policy campaign.