The U.S. Dollar Holds Steady Ahead of U.S. Economic Data Release

Odaily News The U.S. dollar held steady ahead of the release of U.S. employment data, which could provide clues about the timing of the Federal Reserve's next interest rate cut. The December "small non-farm payrolls" ADP employment figures and the November JOLTs job openings will be released at 21:15 and 23:00 Beijing time tonight, respectively. The ISM services data will also be released. However, the key market focus this week remains the U.S. non-farm payrolls report due on Friday. If further signs of labor market weakness emerge, it could prompt markets to bring forward expectations for the timing of the next rate cut. LSEG data shows that markets are currently pricing in roughly a 50/50 chance of a rate cut in March, but a full rate cut is not fully priced in until June. (Jin10)