Analyst: Regardless of the non-farm payroll data being high or low, the US dollar faces further downside risk.

Monex Europe analysts said in a report that the US dollar will face a significant risk of weakening after the release of US non-farm payrolls data on Friday. "Data that meets or exceeds expectations may not help alleviate people's concerns about the labor market slowing down, and therefore will not provide much support." However, they stated that data below expectations will fuel market bias and provide another reason to sell the dollar after its recent recovery.