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Aug 05 - 09:55 AM

USD: Tomorrow's NFP The Most Important For Driving USD Performance N-Term - MUFG

By eFXdata  —  Aug 05 - 08:30 AM

MUFG Research discusses the USD outlook ahead of tomorrow's NFP report.

"Yesterday’s comments from Fed Vice Chair Clarida have captured even more market attention...The timing is broadly in line with the consensus view now on the FOMC and market expectations although it was still sufficient to trigger a hawkish repricing of short-term US rates yesterday. At the same time, Fed Vice Chair Clarida stated that he would support announcing a moderation in asset purchases later this year," MUFG notes. 

"After yesterday’s volatility, we still believe tomorrow’s NFP report remains the most important for driving US dollar performance in the near-term," MUFG adds. 

Source:
MUFG Research/Market Commentary

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