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Dollar Pauses as Market Awaits Fed Comments and Key Economic Data

September 26, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas releases market commentary from Li Xing Financial Markets Strategist Consultants to Exness.

"The U.S. dollar traded in a narrow range on Thursday as traders await speeches from Federal Reserve officials and key economic data for clues on future interest rate cuts. The greenback remains under pressure due to growing expectations that the Fed could lower rates faster than other central banks, eroding the dollar's yield advantage, which has supported the currency for the past.

The anticipation of rate cuts pressured U.S. treasury yields weighing further on the dollar. Looking ahead, the market now turns its attention to U.S. jobless claims data, as the Fed's focus has shifted from inflation to the health of the labor market. If the labor market weakens, Treasury yields could decline further. Fed Chair Powell's comments will also be scrutinized for clues on upcoming monetary policy decisions, as will Friday's release of the Core PCE Price Index, the Fed's preferred inflation gauge. The PCE Price Index is expected to remain unchanged at 0.2% month-on-month. However, any significant variation could trigger volatility in the dollar and Treasury yields."

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

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