Dollar Climbs on Stronger Job Data
The dollar index rose above 99.2 on Tuesday as investors digested stronger-than-expected US labor market data ahead of the Federal Reserve’s policy meeting. Job openings increased by 12,000 to 7.670 million in October, following a 431,000 jump to 7.658 million in September, with both readings surpassing expectations of 7.2 million.
Meanwhile, the weekly ADP employment report showed the US private sector added an average of 4,750 jobs per week in the four weeks ending November 22, rebounding after three consecutive periods of declines. These labor market gains complicate the Fed’s policy outlook.
Markets currently price in about an 87% chance of a 25-basis-point rate cut on Wednesday, up from roughly 67% a month ago. However, the 2026 outlook remains uncertain, with analysts expecting a “hawkish cut”, in which Chair Jerome Powell signals caution on further easing amid persistent inflationary pressures.
Source : Tradingeconomics.com
