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USD Index continues to rise, targeting 105.00.
Next, focus on the number of initial jobless claims filed in the United States last week.
Fed officials Harker, Williams, Bostic and Bowman will speak later.
The U.S. Dollar Index (DXY), which tracks the value of the U.S. dollar against major currencies, maintained buying pressure and approached the 105.00 area on Thursday.
The index has been higher for a third straight session so far Thursday, aided by a similarly strong move higher in U.S. yields over the past few days.
The recent price action surrounding the U.S. dollar also comes amid growing market talk surrounding the Federal Reserve and the possibility that the U.S. central bank will begin cutting interest rates at some point in the second quarter of 2024.
Additionally, investors believe the Fed will keep interest rates on hold for the remainder of the year, but the Fed is unlikely to raise rates in November given continued unexpected upward surprises in data, according to CME Group’s FedWatch Tool. The possibility cannot be completely ruled out.
The only data to watch later will be last week’s jobless claims, followed by Philadelphia Fed’s P. Harker (voter, hawkish), New York Fed’s J. Williams (permanent voter). , centrist), Atlanta Fed R. Bostic (2024 voter, hawk), and FOMC President M. Bowman (permanent voter, centrist).
