Fed speakers set to comment on monetary policy on Friday, which might set the late session’s pace.
US housing data shows a decline in Building Permits and Housing Starts.
The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, is declining on Friday as profit-taking sets in following a strong rally earlier in the month. The US Dollar retreat comes ahead of a series of speeches by Fed officials on Friday, which could provide further insight into the central bank's monetary policy stance. Additionally, US housing data released on Friday morning showed a decrease in Building Permits and Housing Starts, indicating a potential slowdown in the housing market.
Despite a period of deceleration, the economy has demonstrated signs of strength, and the Federal Reserve (Fed) has indicated that its approach to monetary policy will be guided by the evolving economic data.
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