Dollar index advances well above 98 mark; US jobs data in focus

Dollar index ascends well into mid 98 mark on Thursday after the ISM reported on Wednesday that the US Services PMI rose to 54.4 in December from 52.6 in November. This figure came in stronger than the expectation of 52.3. JOLTS Job Openings came in at 7.146 million in November. Meanwhile, ADP Employment Change showed an increase of 41,000 jobs in December, following a revised decline of 29,000 in November. Investors now turn attention to weekly jobless claims due Thursday and the December employment report on Friday for further cues on possible Federal stance going ahead. The dollar index that measures the greenback against a basket of currencies was quoting at 98.45, marginally higher on the day.

 

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