Market News
Dollar edges higher with investors focused on labor market data - REUTERS
Summary
- ADP and jobless claim data indicate weakening labor market
- All eyes on Friday's payrolls report for policy cues
- Bond market ructions ease but fiscal worries linger
NEW YORK/LONDON, Sept 4 (Reuters) - The U.S. dollar edged higher on Thursday in a volatile week with markets eyeing a crucial jobs report, after data indicating labor market weakness reinforced expectations the Federal Reserve will cut rates this month.
Data showed on Thursday that the number of Americans filing new applications for jobless benefits increased more than expected last week, consistent with softening labor market conditions. Furthermore, the ADP National Employment Report showed U.S. private payrolls increased less than expected in August.
