Dollar retreats ahead of US employment figures

Around 11:10 a.m., the greenback yielded 0.22% to 1.1312 dollars to the euro.

The US dollar retreated once morest the euro on Wednesday following a strong start to the year as investors took a break before a report on US jobs and the Fed minutes.

Around 11:10 a.m., the greenback yielded 0.22% to 1.1312 dollars to the euro.

The business services firm ADP’s survey of job creation in the US private sector for December will be released at 2:15 p.m.

ADP data precedes Friday’s official figures, “which will be used to determine how much room for improvement remains in the labor market before reaching full employment target by the Fed,” the US Federal Reserve comments Han Tan , analyst at Exinity Group.

The Fed signaled at its last meeting that it would act in 2022 by raising its key rates to limit inflation, but has kept them very low for now to avoid stifling the booming economy. reprise.

At 19:00 GMT, the Fed will also share the minutes from its last meeting.

They “will be shelled by investors, eager to find clues on when the American Central Bank intends to raise its rates,” said Ricardo Evangelista, analyst at ActivTrades.

“If the Fed minutes and Friday’s report suggest that a rate hike is possible as early as March, it would benefit the dollar and weigh on gold,” Tan warned.

The metal, a safe haven, continued its rebound on Wednesday (+ 0.24% to 1819 dollars) following suffering a small plunge in the first session of the year Monday, suffering from the risk appetite of the market.