USD manages to hold its ground on Tuesday after sharp losses on Monday due to disappointing May ISM PMIs.
for April reported a lower-than-expected job opening. Markets await upcoming Nonfarm Payrolls report and wage growth data for further insights into the Fed's policy outlook. On Tuesday, the US Dollar Index saw moderate gains despite soft labor market data reported by the US Bureau of Labor Statistics. The previously bearish market environment, fueled by weak Institute for Supply Management PMI data for May, appeared to stabilize.
data Markets displayed unease with the report indicating fewer job openings in April. Job openings in April were reported to be 8.059 million, lower than both the expected 8.34 million and March's revised figure of 8.35 million, according to data released on Tuesday by the BLS. Falling job openings contributed to the market's wariness, escalating speculation of a Fed interest rate cut in September to nearly 60%.