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Dollar Index holds near 101.1 as NFP week starts

FXStreet said the DXY is expected to swing this week as Nonfarm Payrolls and other US data, including PCE and JOLTS, could shape Federal Reserve rate expectations.

Reported · Written up by our desk · Major Pairs

The US Dollar Index, which tracks the greenback against six major currencies, was little changed at the start of the week, trading around 101.10 in Asian hours, according to FXStreet.

FXStreet said the dollar is likely to stay volatile through the week due to multiple scheduled US economic releases, including Nonfarm Payrolls for September on Friday, plus JOLTS Job Openings and Personal Consumption Expenditure, or PCE, for August.

The outlet added that ADP Employment Change and ISM Manufacturing PMI for September are also on the calendar, with the NFP report expected to be a key driver of Federal Reserve interest rate expectations.

FXStreet cited CME FedWatch showing an almost 68% chance the Fed will hike again at its October policy meeting, following the September move that lifted rates by 25 basis points to a 3.75% to 4.00% range and signaled at least one more hike later in the year.

Latest closeDollar index 101.03 ▼0.2%

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