PANews reported on December 4th that the US dollar remained weak after hitting a five-week low in the previous trading session, as US data and news regarding the next Federal Reserve chairman boosted expectations of a rate cut ahead of next week's interest rate decision. On Wednesday, the ADP private sector employment report was weaker than expected, while ISM services data showed some easing price pressures. These data were released after Trump hinted that he would nominate Hassett as the next Fed chairman. LSEG data showed that the market is pricing in an 85% probability of a Fed rate cut in December.PANews reported on December 4th that the US dollar remained weak after hitting a five-week low in the previous trading session, as US data and news regarding the next Federal Reserve chairman boosted expectations of a rate cut ahead of next week's interest rate decision. On Wednesday, the ADP private sector employment report was weaker than expected, while ISM services data showed some easing price pressures. These data were released after Trump hinted that he would nominate Hassett as the next Fed chairman. LSEG data showed that the market is pricing in an 85% probability of a Fed rate cut in December.
As expectations for interest rate cuts rise, the US dollar remains weak amid a series of negative news.
PANews reported on December 4th that the US dollar remained weak after hitting a five-week low in the previous trading session, as US data and news regarding the next Federal Reserve chairman boosted expectations of a rate cut ahead of next week's interest rate decision. On Wednesday, the ADP private sector employment report was weaker than expected, while ISM services data showed some easing price pressures. These data were released after Trump hinted that he would nominate Hassett as the next Fed chairman. LSEG data showed that the market is pricing in an 85% probability of a Fed rate cut in December.
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