The US Dollar snaps recovery and retreats against most major peers.
The Greenback sees earlier gains evaporate in recession fears emerging again.
The US Dollar index trades back below 103.00 in technical rejection.
The US Dollar (USD) eases across the board against nearly all major peers in what turns out to be a nervous Thursday. Markets are trembling in the run-up to the weekly US Jobless Claims data, which will be released later in the day. It was this same data point that sparked the volatile patch last week ahead of the US Jobs reports and resulted in the massive sell-off on Monday across all asset classes.
On the economic data front, there is a very light calendar ahead. Because of this very calm trading week in terms of economic data, the weekly Initial Jobless Claims print for the week ending on August 2 will gain importance in magnitude. Thus, expect a rough ride later this Thursday on the back of the Jobless Claims data.
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