US Dollar Index is off its weekly low, but any headwind might end the Greenback’s summer rise.

The US Dollar (USD) is trading mostly sideways, with the exception of the Japanese Yen. The US dollar falls roughly 0.70% after the release of the US jobs report, reaching a one-week low of approximately 144.90 USDJPY. However, the losses are relatively confined and are beginning to be matched in the aftermatch of the Nonfarm Payrolls change.

Next, ISM Manufacturing will aim to shift the needle or present a clearer picture.

Traders scored a perfectThe following is a summary of the previous datapoints seen this week. As indicated in the Jobs report: Nonfarm payrolls increased by 187k. Surpassing previous month’s report, which was revised down from 187k to 157k. As a result, jobs were added in August. It appears that the employment market is still holding up well in the face of rising interest rates. Another rate rise by the Fed appears to be in doubt. Since average hourly earnings have fallen from 0.4% to 0.2% month on month. Implying that firms are having to pay less in order to attract workerserhaps alleviating inflationary pressures.

Daily summary: The US dollar is hesitant to move.

Commodities are surging in the backdrop, with Crude Oil on a tear. Crude is rising in price. Following data from Kuwait and Saudi Arabia. Petroleum shipments are at a multi-year low.

Senate Majority Leader Chuck Schumer stated. That the focus this week would be on financing and avoiding a government shutdown.

The Chinese Yuan strengthened versus the US dollar in Asian trade. After the People’s Bank of China (PBoC) reduced the Forex Reserve Ratio by 0.02%.

The US jobs data, which was released at 12:30 GMT, featured a few notable takeaways: The change in Nonfarm Payrolls was above estimates and above July, with a revised 157k for July being surpassed by 187k for August. Average hourly earnings have fallen from 0.4% to 0.2% compared to July. To summarize: individuals are still finding jobs rather easy, but they are not seeing greater pay or benefits. have less flexibility to negotiate higher wages, which means less room for spending and reduced inflationary pressures ahead.

The S&P Global Manufacturing Purchasing Managers Index (PMI) for August will be issued at 13:45 GMT. The print is expected to remain steady at 47, indicating that the contractionary posture has not changed.

The ISM Manufacturing PMI for August, which is predicted to rise from 46.4 to 47.

The ISM Manufacturing PMI for August, which is predicted to rise from 46.4 to 47, will provide final confirmation of the previous surge on the back of US Nonfarm Payrolls. This is a continuation within the contraction zone. For the next month, the Employment Index is predicted to remain stable at 44.4 to 44.2. The New Orders Index is expected to fall from 47.3 to 46.3, while thePrices Paid Index increased from 42.6 to 43.9.

In the equities markets, the Japanese Topix index ends at +0.76%, same to Thursday. The Hong Kong Hang Seng index falls by 0.55%. European and US markets are slightly higher but lack direction.

According to the CME Group’s FedWatch Tool, markets are pricing in an 89% likelihood that the Federal Reserve will hold interest rates steady at its September meeting. The previous 78% likelihood was soon revised following the negative findings from the JOLTS study.

The benchmark 10-year US Treasury note yield is at 4.09%, having stopped falling earlier this week.