Measuring Content Performance
The US Dollar Index (DXY) edged lower to around 100.15 during Wednesday’s Asian session, retreating slightly after touching a three-month peak near 100.25. The downward pressure comes as the ongoing US federal government shutdown enters its 36th day, on track to become the longest in US history.
Efforts in Congress to pass temporary funding measures once again failed in the Senate on Tuesday, heightening concerns over the economic impact of prolonged government closure and weighing on the Greenback.
Meanwhile, although the Federal Reserve cut rates in October to a 3.75%–4.00% range, Chair Jerome Powell signaled that another rate cut this year is not guaranteed. As a result, market expectations for a December cut have fallen from 93% to around 70%, offering some limited support to the USD.
Later today, traders will focus on key US economic releases, including ADP private payrolls at 17:15 (+4 GMT) and the ISM Services PMI at 19:00 (+4 GMT). Forecasts suggest an increase of 25,000 private-sector jobs following a prior decline of 32,000. Stronger-than-expected data may help the US Dollar recover near-term losses.
