💨 Abstract

The U.S. dollar fell on Thursday as mixed economic data was digested to gauge the outlook for Federal Reserve interest rate cuts. Retail sales rose, but unemployment claims and the Philly Fed Business Index were unexpected. Traders reacted to the data with relief, buying stocks and sending Treasury yields down. The focus is on the nomination hearing of Scott Bessent to head the Treasury Department. Analysts expect him to keep a leash on U.S.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖