The September opening of this new week's trading saw price movements still slow yesterday with the absence of major economic data besides the American market being closed yesterday in conjunction with Labor Day.
Ahead of the September FOMC meeting which will take place in about 2 weeks, investors are more cautious with the expectation of monetary policy setting by the Federal Reserve (Fed) being a conversation for months.
Important indicators this week will be directed at several components of employment data that are part of the Fed's main compass in determining policy.
JOLTS data is due on Wednesday, followed by the ADP report on Thursday before the main market focus on the US NFP jobs report at the end of the week.
Markets are now betting 69% on a 25 basis point interest rate cut by the interim Fed, 31% on a 50 basis point cut.
The US dollar currency showed a dismal opening at the beginning of the week yesterday, not extending the recovery pattern displayed last week.
The focus of data today (Tuesday) is on the ISM survey US manufacturing PMI data for August with the number forecast to be better than the contraction seen in the previous month.
A survey of the US service sector will follow on Thursday.
The dollar index (DXY) leveled at 101.70 points after successfully showing an increase since last week.
While the US 10-year treasury yield is seen to have passed the 3.90% level with the increase continuing yesterday.
Investors will remain cautiously anticipating volatile movements for the US dollar while waiting for clues on key data to come this week.
