US Dollar steady after Jobless Claims opens door for Fed easing in December
The US Dollar (USD) is trading flat on Thursday at around 106.50 when tracked by the DXY US Dollar Index, afterNew York Fed President John Williams said that inflation continues to cool down, opening the door for a further drop in interest rates. The US Dollar has traded broadly sideways in recent days, influenced by swings coming from the war between Russia and Ukraine and, more recently, disappointing earnings from Nvidia.
The US economic calendar features on Thursday the weekly Jobless Claims data and the Philadelphia Fed Manufacturing Survey for November came in under expectations. In the Jobless Claims the Continuing Claims part is starting to near the 2 million head count. Meanwhile the Philadelphia Manufacturing number for November fell in contraction, and adds weight to the call for a rate cut in December.
Source : Fxstreet