Starting trading at the beginning of the week yesterday, the US dollar displayed a strengthening pattern to change its gloomy movement at the end of November last week.
Analysts see this as the best strengthening of the US dollar on Monday in 6 months.
The market situation was influenced by reports regarding the announcement of 100% tariffs by Donald Trump on BRICS countries and their peers who turned away from the US dollar.
This became a stronger threat by the future President of the United States (US) after previously warning to impose 25% tariffs on Canada and Mexico in addition to adding 10% tariffs on China.
Also supporting the strengthening of the US dollar in the New York session yesterday when the ISM survey data for the US manufacturing sector recorded an increase exceeding forecasts and the previous month.
Although it has not yet reached the 50-point level that indicates expansion in the sector, the 48.4 point figure for November shows a positive increase from October's 46.5.
Regarding central bank monetary policy, the market this week will examine several components of US employment data ahead of the final FOMC meeting of the year in a few weeks.
Of course, the main focus will be on the US NFP employment report at the end of the week for the Federal Reserve (Fed) to assess the health of the labor sector, which can influence monetary policy decisions.
Before that, the focus will first be on the JOLTS data, which will calculate the number of job openings in the United States in October.
The forecast figure is better than the decline recorded in the previous month's reading.
After failing to take advantage of the US dollar's previous depreciation situation, other major currencies in the market began to show a decline again as soon as the December opening began.
The euro has significantly experienced a depreciation in value in addition to the political unrest currently affecting Europe, especially France.
In addition, European Central Bank (ECB) council member Martins Kazaks expressed his support for the central bank to continue cutting interest rates in the European zone, which sees the inflation issue as being resolved.
Other currencies also showed the same pattern except for the Yen which remained stable continuing to strengthen against the US dollar amid expectations that the Bank of Japan (BOJ) will raise interest rates at its December meeting.
