US dollar lost more than 1.6% of its value.

The US Dollar (USD) is at a crossroads in terms of positions. As its summer rise came to an abrupt end and took a turn for the worst. The US Dollar was unable to make significant gains on Monday. As risk off sentiment dominated in the aftermath of the Israel Hamas conflict. Since then. Moreover the greenback has weakened, and a succession of Fed speakers this week. Who feel the Fed is done increasing are merely adding fuel to the fire. .

The US CPI statistics are expected later this Thursday.

Traders may push the US dollar down again with the release of the Consumer Price Index (CPI) statistics on Thursday. Overall, the numbers are expected to fall much lower.

Moreover This would reinforce individual Fed members’ recent recommendations. Not to increase again, perhaps sending the US Dollar Index (DXY) far lower.

The US Dollar is a wounded animal, according to the daily digest.

The CPI figures will be issued at 12:30 GMT: The monthly index as a whole is predicted to dip from 0.6% to 0.3%. The total annual indicator is predicted to fall from 3.7% to 3.6%.

Moreover the core monthly index, which excludes food and energy from the price basket, is predicted. To remain stable at 0.3%. The annual core CPI will fall from 4.3% to 4.1%..

Moreover Additionally, the Initial and Continuing Jobless Claims will be released around the same time. Initial claims are estimated to range between 207,000 and 210,000. The number of Continuing Claims is expected to rise from 1.664 million to 1.68 million.

The US Treasury will hold an auction for a four-week bill and a 30-year bond.

Equities are surging, with numerous indexes returning to positive year-to-date performance. If the US dollar continues to fall, stocks will receive even more support.

Fyrthermore according to the CME Group FedWatch Tool. Markets are pricing in an 88.3% possibility. That the Federal Reserve will hold interest rates steady at its November meeting.

The benchmark 10-year US Treasury yield has dropped to 4.54%. The lowest level in almost ten days.