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Dollar bulls had already gained back grounds lost over Friday's jobs releases, beginning early in Asian trade and today's improved labor market condition index, to be released at 14:00 GMT, might as well firm that grip. On the other hand, they risks retreat if the index surprise to the downside.
One thing can be said with some degree of certainty, that it will be volatile.
What is labor market condition index -
- Labor market condition index was developed by US Federal Reserve in early 2014. It represents 19 different labor market indicators. Naturally, this index is a good presenter of the US labor market.
Past Trends -
- Beginning this year, labor market condition index deteriorated sharply from 7.3 in December, 2014 to -1.9 in April, 2015. LMCI has improved marginally since then. In June labor market condition came at 0.8.
Expectation today -
- Market hasn't set their heads on any specific numbers, though improvement is expected.
FXCM US Dollar index, is trading close to its recent range high at 12048. Friday marked as another failed attempt to break it.
