FX.co ★ Dollar Holds Advance Ahead of Jobs Report

The dollar index remained above 100 on Thursday, nearing a six-month high as investors evaluated the Federal Reserve's monetary policy outlook ahead of an important jobs report. The delayed release of the September nonfarm payrolls report, anticipated to indicate job growth while still suggesting a subdued labor market, is expected later today. The Bureau of Labor Statistics (BLS) announced it will not be publishing the usual October employment report, as household survey data cannot be collected retrospectively; however, these omitted figures will be included in the postponed November release. Recent Federal Open Market Committee (FOMC) minutes revealed a division among policymakers regarding the necessity for further rate cuts, leading traders to lower their expectations for a December adjustment. Current market projections indicate approximately a 33% likelihood of a 25 basis point cut next month, a decrease from 50% the previous day. The dollar maintained its strength against the majority of major currencies, with notably significant gains against the yen, New Zealand dollar, and British pound.