Dollar index seen stabilizing near 99.50; US data in focus

The dollar index is seen stabilizing around 99.50 mark on Tuesday as reduced bets of a December rate cut is holding the greenback firm. Recent hawkish comments from Fed officials are also keeping the dollar supported. However, Fed Governor Christopher Waller said that the US central bank should cut the interest rates when policymakers meet in December. Waller added that hes grown concerned over the labor market and the sharp slowdown in hiring. All eyes are now on the delayed reports especially US September Nonfarm Payrolls (NFP) report that will be the released later on Thursday. The dollar index that measures the greenback against a basket of currencies is quoting at 99.43, down 0.06% on the day. Also, later today, Fedspeaks Feds Michael Barr and Thomas Barkin are set to speak that could determine DXY direction in the near term.

 

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