DXY stabilizes near 100 mark; US data in focus

The dollar index is seen stabilizing just above 100 mark on Tuesday as dovish signals from Federal Reserve officials that increased case for a rate cut is capping upside. New York Federal Reserve President John Williams said on Friday that interest rates could fall in the near term without putting the central bank's inflation goal at risk. Adding to this, Fed Governor Christopher Waller said on Monday that the job market is weak enough to warrant another quarter-point rate cut in December. Meanwhile, the market focus now shifts to the upcoming macroeconomic data releases from the US, including September retail sales and producer price index, November consumer confidence, as well as the weekly private sector employment report. The dollar index that measures the greenback against a basket of currencies is currently quoting at 100.10, almost flat on the day.

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