Asian Currencies Stabilize Ahead of Non-Farm Data, Markets Await Crucial Direction

Asian Currencies Remain Stable in Early Trading

Asian currencies held steady against the US dollar ahead of the crucial non-farm payroll data release. Market participants are adopting a wait-and-see approach, hoping for directional cues from the figures.

Expert Forecast: Data Likely to Miss Expectations

Carol Kong, FX strategist and economist at Commonwealth Bank of Australia, suggested the upcoming non-farm data might fall short of market consensus, potentially exerting downward pressure on the greenback.

Increased Bets on Further Fed Rate Cuts

She also noted that sustained weakness in the labor market combined with easing inflationary pressures could pave the way for two more interest rate cuts by the Federal Reserve this year, aiming to stimulate economic momentum.