The US dollar index held steady around 99.5 on Tuesday (November 18), halting the moderate gains recorded over the previous two sessions, as traders remained cautious and refrained from taking large positions ahead of key economic data releases.
The latest data from the US Department of Labor showed initial jobless claims at 232,000 for the week ending October 18, while continuing claims reached 1.957 million, the highest level since August. The US statistical agency has begun releasing data delayed by the government shutdown, with the employment report scheduled for Thursday.
Investors are concerned that these figures could limit the Fed's ability to cut interest rates further, especially as many policymakers have expressed skepticism about the need for additional easing. Markets currently price in about a 46% probability of a 25 basis point cut in the federal funds rate next month. The US dollar was largely unchanged among major currencies but traded mostly higher against the Swiss franc and the yen. (alg)
Source: Trading Economics
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