The US Dollar steadies near 100.50 after a two-day selloff, with investors awaiting key economic data and Fed commentary.
The US Dollar Index stabilizes around 100.50 in early European trading on Thursday, halting a two-day decline. The greenback weakened after softer-than-expected US inflation data, with the Producer Price Index falling 0.3% month-over-month in June and rising 5.5% year-over-year, below forecasts of 6.2%.
Earlier this week, consumer inflation also came in below expectations, easing pressure on the Federal Reserve. The USD Index dropped about 0.5% on Wednesday, its weakest performance against the New Zealand Dollar this week. US stock index futures show little movement ahead of today’s data.
Investors will focus on weekly Initial Jobless Claims and June Retail Sales figures later Thursday. Comments from Federal Reserve officials, including Fed Chair Kevin Warsh, will also be closely watched after his recent testimony received a muted reception from markets.