Dutch International Bank: Signs of a weakened job market may help the market digest expectations of further interest rate cuts by the Federal Reserve

Odaily Planet Daily reported that the US dollar remained stable ahead of employment data and the US presidential election. Dutch International Group analyst Francesco Pesole stated in a report that the US JOLTS job vacancy data may distract the market's attention from the November 5th election. He said that signs of a weakening job market may prompt the market to digest expectations of further interest rate cuts by the Federal Reserve. However, if the US economic data does not deteriorate, the US dollar should appreciate before the election. We still hold a positive bias against the US dollar, and we wouldn't be surprised to see the US dollar index approaching 10 on election day