Dollar Seeks Rebound as US Jobs Data Looms
The US dollar has weakened recently, but technical indicators suggest it may be due for a rebound. Markets are on high alert ahead of today's key economic data releases from both the US and Canada.
The US Non-Farm Payrolls (NFP) report is expected to set the tone for FX markets in the coming days. A strong reading could revive dollar buying, while a weak one may reinforce expectations of a more dovish Federal Reserve.
In contrast, equity markets remain well-supported, with investors holding on to recent gains. However, cryptocurrencies continue to struggle, with Bitcoin slipping lower and most major altcoins under pressure. Cardano (ADA) is one notable exception, continuing to show relative strength despite the broader weakness in the crypto market.