US DOLLAR INDEX STEADIES AHEAD OF CRUCIAL US DATA

Published on Aug 29, 2024 11:42

The US dollar index steadied on Thursday following a mild recovery in the previous session as investors cautiously await US economic data this week. The US 10-year Treasury yields also steadied around 3.84% as investors keenly watch for key US economic data that could influence the outlook for Federal Reserve monetary policy. A second estimate for Q2 GDP and the latest initial jobless claims will be released later today, while the Fed-preferred inflation gauge, the PCE price index report, will follow on Friday. The dollar index that measures the greenback against a basket of currencies is quoting at 100.85, down 0.14% on the day. Meanwhile, among the basket currencies, EURUSD and GBPUSD witnessed mild recovery by around 0.2% at $1.11 and $1.32 respectively.