The US Dollar remains steady as markets observe a US holiday on Monday
- The US Dollar remains largely steady around Friday’s closing levels.
- US markets are closed on Monday for the Labor Day holiday.
- The US Dollar Index is positioned in the upper 101.00 range.
On Monday, the US Dollar (USD) remains on the sidelines, showing a mixed performance against most major currencies. The start of the week is quiet due to the Labor Day holiday in the US, but activity is expected to increase as the week progresses, leading up to the key event on Friday. The first Friday of the month will feature the US Jobs Report, including Nonfarm Payrolls and other wage data, which are likely to drive market movement.
In addition to the crucial payroll data, the calendar will also include Purchasing Managers Index (PMI) data, which often influences markets by providing new insights into economic conditions. As a result, the US Dollar Index may have already experienced significant movement before Friday’s key event.
Equities are facing difficulties across the board, with European indices showing minor losses and US futures also lagging behind.
The US 10-year benchmark rate is trading at 3.90% and will remain unchanged as bond trading in the US is closed on Monday.