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Dollar Index: Daily Analysis & Forecast

The dollar index, which tracks the greenback against six peers, held near overnight levels at 106.53. The greenback gave up some recent gains after U.S. private payrolls increased far less than expected in September, according to the ADP National Employment Report on Wednesday, although analysts said more evidence was needed to be sure how fast the labour market is cooling. Longer dated U.S. Treasury yields eased from 16-year highs after the data and remained lower in the Asian morning. There are some indications that the U.S. labour market is cooling down further but it’s still too early to tell, putting Friday’s non-farm payrolls under close watch. The bigger picture is that the overall U.S. growth has been slowing but it’s been slowing slower than expected.

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