Early on Wednesday, New Zealand will release Building Permits data, and later Australia will do the same. The crucial report of the Asian session will
came in below expectations, leading to a sharp drop in US Treasury yields. The 10-year yield fell from 4.20% to 4.11%, reaching its lowest level in two weeks. The DXY index broke below 104.00, falling below 103.50.
The correction of the US Dollar appears likely to continue, but upcoming US data will be crucial in determining its direction. On Wednesday, the ADP private employment report and another estimate of Q2 GDP growth will be released. Consumer inflation data will be released on Thursday, followed by Nonfarm Payrolls on Friday. These numbers could further impact the US Dollar if they continue to soften expectations of monetary policy tightening.
surged. The Dow Jones gained 0.85%, and the Nasdaq rallied 1.74%. Crude oil prices gained more than 1.5%. rebounded from below 1.0800 and approached the 20-day Simple Moving Average . On Wednesday, Spain and Germany will release their preliminary August Consumer Price Index figures, which will be critical for expectations regarding the actions of the European Central Bank at the September meeting.continued to rise, surpassing 0.8600 to reach its highest level in two weeks.
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