USD INDEX TREADS WATER AROUND 103.00 AHEAD OF NONFARM PAYROLLS

The index exchanges gains with losses around 103.00.

US yields trade in a cautious note ahead of key data.

US Nonfarm Payrolls, Unemployment Rate take centre stage.

The USD Index (DXY), which tracks the greenback vs. a bundle of its main competitors, navigates without clear direction around the 103.00 neighbourhood at the end of the week.

USD Index looks at key data, Fed

The index maintains the cautious trade around 103.00 ahead of the publication of the US jobs report for the month of June later in the NA session.

So far, and in light of recent solid prints from US fundamentals, investors continue to anticipate a quarter-point interest rate hike by the Federal Reserve at the July 26 gathering.

Indeed, the latter results from the industrial sector, the ISM Services PMI and monthly ADP figures more than doubling initial estimates all did nothing but emphasize the resilience of the US economy and underpin the resumption of the tightening campaign by the Fed following June’s skip, in line with unabated hawkish narrative from Fed’s rate setters.

In the US data space, Nonfarm Payrolls and the Unemployment Rate for the month of June will be in the spotlight later in the European afternoon