USD faces pressure as Goldman projects weak NFP at +60K for Friday

The US dollar remains under selling pressure ahead of Friday's crucial Non-Farm Payrolls report, with Goldman Sachs forecasting a disappointing +60K job additions for August, well below consensus expectations. The investment bank anticipates the unemployment rate to climb to 4.3%, reflecting continued deterioration in labor market conditions. Average hourly earnings are expected to match estimates at +0.3% month-over-month. Goldman notes that seasonal negative bias in August's initial prints could push the actual figure even lower, potentially intensifying dollar weakness. This projected softness in employment data reinforces market expectations for Federal Reserve rate cuts, with traders pricing in increased probability of aggressive monetary easing. Major dollar pairs like EUR/USD and GBP/USD could see upward momentum if the data disappoints, while USD/JPY may test recent support levels. The weak jobs outlook suggests the Fed's pivot toward easier monetary policy may accelerate.