ING Bank: Signs of weakening job market may prompt the market to digest the Fed's expectations of further rate cuts

The dollar remained stable ahead of U.S. jobs data and the U.S. presidential election. ING analyst Francesco Pesole said in a report that the U.S. JOLTS job openings data could distract the market from the November 5 election. He said signs of a weaker job market could prompt the market to price in further interest rate cuts from the Federal Reserve. However, if U.S. economic data does not deteriorate, the dollar should appreciate before the election. "We still have a positive bias on the dollar and would not be surprised to see the dollar index close to 10 on election day." (Jinshi)