Non-farm payrolls are expected to see the largest annual revision in history, and the US dollar index is expected to remain volatile ahead of the data release.

According to ME News, on February 11th (UTC+8), a report from Maybank indicated that the US Dollar Index (DXY) has found support, and short positions appear to be being moderately reduced. The market is cautiously awaiting tonight's release of the January non-farm payroll data. Although last night's US December retail sales data was lower than expected, showing no change month-on-month, the dollar still maintained some support. The market is focused on the increase in non-farm payrolls in January, which is expected to be around +65,000 (compared to 50,000 last month). The unemployment rate is likely to remain at 4.4%, and the revised annual employment figure for 2025 is projected to be -825,000. This is the main reason for the dollar's weakness this week—the market anticipates the largest annual downward revision in history. After experiencing relatively significant volatility this week, the dollar is likely to maintain a consolidation pattern before the release of the non-farm payroll data. (Source: ME)