Dutch International: US employment data is key to the trend of the US dollar.

Dutch international analyst Turner said in a report that the upcoming US non-farm payroll report will play an important role in determining whether the recent downtrend of the dollar will continue further. Federal Reserve Chairman Powell believes that stubborn inflation and a stable labor market mean that interest rates should currently remain at a restrictive level. "Any unexpected downturn in the employment report will weaken his position and push the market to price in expectations of a rate cut at the July meeting," he said, adding that the dollar may continue to consolidate before the July 4th US holiday unless employment data is weaker than expected.