Dollar traders should brace for a big dose of volatility following the release of Friday's much-anticipated nonfarm payrolls report, analysts warned.
Soft data this week have raised concerns about the U.S. economic outlook, and trading volumes thinned by public holidays across the world have set the dollar up for some potentially wild swings, they said.
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"If you love volatility, then you will be glad to know that it could notch up when the unemployment data will be released tomorrow," said Naseem Aslam, chief market analyst at AvaTrade, in a note.
"Given that the manufacturing and ADP employment data was soft this week, expectations are not really for a thrilling number."