US DOLLAR SHOWS GAINS AFTER GDP DATA AND FED OFFICIAL'S CAUTIOUS STANCE
- Atlanta Fed President Bostic is cautious about rate cuts and prefers to see more data before easing.
- Revised GDP growth of 3% in Q2 highlights the resilience of the US economy.
- Jobless claims came in better than expected.
The US Dollar, measured by the US Dollar Index (DXY), saw further gains above 101.00 on Thursday. The 10-year US yield holds above 3.8%, supporting the Greenback. US stock index futures trade mixed following Nvidia earnings, which could impact risk appetite and the US Dollar's demand as a safe-haven currency. On the data front, Gross Domestic Product (GDP) revisions highlight US economic resilience.
The US economy remains robust, exceeding expectations. However, market sentiment appears overly optimistic, with expectations of aggressive monetary easing.
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