A look at the day ahead in U.S. and global markets from Alun John
The dollar has come roaring back at the start of 2023 after a series of data releases that challenged market expectations the Federal Reserve will cut rates significantly later this year.
Nonfarm payrolls data, though, is traditionally the highest profile employment report. Given that Friday's data is the last one before the Fed meets in February, it will - along with next week's inflation numbers - be crucial in guiding the Fed's next move.expects an increase of 200,000 jobs last month, after rising 263,000 in November.
"The sharp sell-off of the dollar in Q4 has in our view resulted in increased sensitivity to signs of US economic strength," they say.
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