The US dollar is now the focus of the market amid growing expectations of an interest rate cut by the Federal Reserve (Fed).
Several Fed officials are now increasingly giving dovish signals and market players are beginning to suspect that the US central bank may cut rates at the December meeting.
At 9.50 am, the US Dollar Index (DXY) was at 99.428 points, down 0.14% since it opened in early Asian trading.
US data revealed that the number of Americans filing for unemployment benefits fell compared to the previous week, showing a decline of 216,000 compared to the expectation of 226,000 and Durable Goods Orders for September exceeded expectations but fell 0.01% compared to the August print.
The newly published data release yesterday seems to have little significant impact on the Fed's monetary policy decision ahead of the December rate meeting.
The focus since the week opened has been more on Minneapolis Fed President Neel Kashkari's statement that people are still feeling the effects of inflationary pressures, thus reiterating his hawkish stance amid the division of opinion within the Federal Open Market Committee (FOMC).
