BlockBeats News, March 5 — A strategist at TD Securities stated in a report that unless Friday’s US non-farm payrolls report shows a significant slowdown, it is unlikely to have a major impact on the dollar. They indicated that US economic data may take a backseat, with market focus shifting to the Middle East conflict and its potential impact on the Federal Reserve’s ability to cut interest rates this year.
The strategists said, “You need to see a much worse report and an increase in the unemployment rate for the market to refocus on this week’s non-farm data and reverse recent price trends.” They believe that given the US’s energy independence and the reduced prospects for rate cuts, if oil prices stay high, the dollar should remain strong. (Jin10)
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