Dollar Struggles to Extend Gains After Strong U.S. Jobs Report
The U.S. dollar remained under pressure despite stronger-than-expected August employment data, as forex markets reassessed September rate expectations ahead of fresh inflation figures.
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The U.S. dollar remained under pressure despite stronger-than-expected August employment data, as forex markets reassessed September rate expectations ahead of fresh inflation figures.

The Australian Dollar (AUD) trades 0.13% higher at around 0.7217 against the US Dollar (USD) during the European trading session on Monday, the highest level seen in over three months.

Commerzbanks Thu Lan Nguyen notes that the latest US labour market report does not materially alter expectations for a September Fed rate move, leaving August US inflation as the key driver.

The Euro (EUR) trades flat against the US Dollar (USD) on Monday, hovering just above 1.1610 at the European session opening, following a reversal from the 1.1640 area last week.

Liquid Network said the incident affected its Liquid Federation wallet, which held about 4,200 Bitcoin before the attack.

The Indian Rupee (INR) opens higher against the US Dollar (USD) at the start of the week.

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – kicks off the new week on a positive note amid escalating US-Iran confrontations in the Strait of Hormuz and climbs back above mid-$90.00s during the Asian session.

The USD/CAD pair trades on a flat note near 1.3835 during the early European session on Monday. The pair steadies as stronger-than-expected US jobs data offsets rising crude oil prices. US markets will be closed on Monday for Labour Day.

The EUR/JPY cross trades in negative territory around 181.20 during the early European trading hours on Monday. The Japanese Yen (JPY) strengthens against the Euro (EUR) as Japanese official projected a Bank of Japan (BoJ) rate hike this month.

Gold (XAU/USD) remains under some selling pressure for the second straight day on Monday, though it shows some resilience below the $4,400 mark during the Asian session.

USD/CHF gains ground for the second successive day, trading around 0.8110 during the Asian hours on Monday.

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Gold trading has become one of the most closely watched corners of the retail CFD market, but a comparison of 32 accounts suggests that traders looking beyond headline spreads may be overlooking another cost that can quietly accumulate every night.

A Singaporean couple are facing more than $500,000 (over RM1.5 million) in paper losses after they were persuaded to invest about $650,000 in a Hong Kong listed company, in what they believe was a coordinated pump and dump scam.

The AUD/USD pair holds steady around the 0.7200 mark at the start of a new week and remains close to its highest level since mid-May, touched on Friday.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 99.20 in the early Asian trading hours on Monday. The DXY edges higher amid a ramp-up in US rate hike bets.

Singapore authorities are warning investors about a renewed wave of stock market manipulation scams after 21 cases involving overseas listed companies were reported since July, with one recent case alone resulting in losses exceeding $700,000 (over RM2.2 million).

The NZD/USD pair attracts some sellers during the Asian session on Monday and currently trades near the 0.5870 region, down around 0.15% for the day. Spot prices, however, remain confined within Friday's broader range, warranting some caution for aggressive bearish traders.

The EUR/USD pair posts modest gains near 1.1615 during the early Asian session on Monday. However, the potential upside for the major pair might be limited amid a stronger-than-expected U.S. August Nonfarm Payrolls (NFP) report. US markets are closed on Monday for Labour Day.

The Organization of Petroleum Exporting Countries and its allies (OPEC+) agreed on Sunday to keep its oil output policy unchanged for October, as the group needs to agree on new quotas before deciding its next output steps.