US DOLLAR STABILIZES ON QUIET FRIDAY, TALLIES WEEKLY GAINS
- Stabilization in risk sentiment lends support to the USD despite lack of fresh fundamentals.
- Fed officials paint an optimistic picture of the US labor markets despite slow job growth.
- Market adjusts easing expectations; first rate cut expected in September with slightly lower odds.
The US Dollar (USD), measured by the US Dollar Index (DXY), showed sideways movement above the 103.00 level in Friday's session. This comes amid stabilized risk sentiment and flat trading in US stock index futures following Thursday's rally, with the 10-year US yield remaining around 4% early in the day.
Despite adjustments in market expectations for future monetary policy decisions, the US economic outlook continues to indicate growth above trend, suggesting premature market anticipation for aggressive easing.
- Stabilization in risk sentiment lends support to the USD despite lack of fresh fundamentals.
- Fed officials paint an optimistic picture of the US labor markets despite slow job growth.
- Market adjusts easing expectations; first rate cut expected in September with slightly lower odds.
The US Dollar (USD), measured by the US Dollar Index (DXY), showed sideways movement above the 103.00 level in Friday's session. This comes amid stabilized risk sentiment and flat trading in US stock index futures following Thursday's rally, with the 10-year US yield remaining around 4% early in the day.
Despite adjustments in market expectations for future monetary policy decisions, the US economic outlook continues to indicate growth above trend, suggesting premature market anticipation for aggressive easing.
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