Daily digest market movers: DXY extends losses on weal labor market figures
- Weekly unemployment claims in the US reached 221K for the week ending March 30.
- The reported claims exceeded estimates of 214K and surpassed the previous week's figure of 212K.
- Following a slowdown in the US service sector, the Federal Reserve remains cautious but isn’t ruling out three cuts in 2024.
- US Treasury bond yields show a slight rise with 2-year, 5-year and 10-year bonds standing at 4.68%, 4.34%, and 4.36%, respectively.
- Investors await key labor market reports from the US, including March’s Nonfarm Payrolls, Unemployment Rate and Average Hourly Earnings data.
- These reports will crucially impact the US Dollar as they shape expectations for the next Fed meetings.
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