The US dollar is in the risk zone. The dollar index during four days is in a narrow range below 93 basis points in anticipation of today’s report of the US labor market to shoot from the accumulation in one direction or another. Looking at the behavior of the index, it seems that the market participants expect a new fall of the US dollar.
To return at least part of the faith in the American currency will be very difficult after all failures which accompany the dollar. Therefore, today for Greenback it is necessary to have all the statistics, which will be published, will be painted in green.
However, the forecast for nonfarm employment change is 182 thousand against the previous 222 thousand. The data is not the worst, but negative dynamics is negative factor for the dollar. It is expected that unemployment will decline to 4.3%, but the target level of 5% already was passed, therefore this indicator will have a limited influence on the American. But the growth of wages will be very important for the dollar, and if the indicator does not change for the better, market participants will be caught the US dollar index at new lows.