Daily digest market movers: US Dollar declines on weak JOLTS data and mixed Fed outlook
- US job openings decreased to 7.67 million at the end of July, missing market expectations.
- Fed's Beige Book indicated modest price increases and uneven economic growth.
- Economic activity improved or remained stable in most Fed districts with some anticipating slight declines.
- Price pressures are expected to moderate, but economic activity remains mixed.
- Market expectations for Fed easing remain steady at 100 basis points by year-end and 200 basis points over the next 12 months.
- The probability of a 50 bps cut in September stands around 30-35%.
- Friday's Nonfarm Payrolls will dictate the pace of Fed cuts and USD dynamics.
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