Forecasting the upcoming week: US labor market takes center stage after hawkish Fed split
• Investors are shifting focus to US economic data during the first full week of August to determine if the US Dollar can recover from its late-July sell-off. • Key market drivers include the ISM surveys, ADP employment figures, and Friday's Nonfarm Payrolls, which will heavily influence the GBP/USD currency pair. • In Asia, the USD/JPY pair closed July near 159.10, with traders now awaiting the Bank of Japan's Monetary Policy Meeting Minutes and June Labor Cash Earnings.
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