The August jobs report is undoubtedly this week’s focal point for the US dollar but ahead of that, the ISM manufacturing PMI and ADP employment print could warm things up for jobs Friday. The ADP employment report is due at 12:15 GMT on Wednesday and the ISM manufacturing PMI will follow at 14:00 GMT. After Fed Chair Jerome Powell’s cautious nod to tapering at the Jackson Hole symposium, the freshly bruised US dollar might be able to pare some losses should the data bolster expectations of a September taper move.

Is Delta surge scuppering the recovery?

The US economy may have recouped all the lost output from the pandemic but many of the scars have yet to heal and the recovery in the labour market is far from complete. This is one explanation as to why the Fed has yet to pull back some of its emergency stimulus as it wants to get as close to full employment as possible before doing so. But a growing number of Fed policymakers…

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