The dollar index (DXY00) today is up by +0.17% and posted a 4-week high. The dollar is moving higher today on some better-than-expected US economic news.  US job cuts last month fell to a 17-month low, and weekly jobless claims rose less than expected, positive factors for the labor market that are hawkish for Fed policy.  Also, Q3 non-farm productivity rose, and the trade deficit shrank to a 16-year low, dollar supportive factors. US Dec Challenger job cuts fell -8.3% y/y to 35,553, a 17-month low and a ...

The market’s focus this week will be on US economic news. On Friday, Dec nonfarm payrolls are expected to increase by +70,000, and the Dec unemployment rate is expected to slip by -0.1 to 4.5%. Also, Dec average hourly earnings are expected to be up by 0.3% m/m and 3.6% y/y. In addition, Oct housing starts are expected to increase by 1.8% m/m to 1.33 million, and Oct building permits are expected to rise by 1.5% m/m to 1.35 million. Finally, the University of Michigan's Jan consumer sentiment index is expec ...