The U.S. dollar held largely steady on Tuesday as traders braced for a widely expected interest-rate cut from the Federal Reserve, while the Australian dollar firmed after its central bank signaled no need for further easing.<\/p>\n\n\n\n
The U.S. dollar index<\/strong> dipped 0.1% to 98.977<\/strong>, with investors preparing not only for the Fed\u2019s decision but also for a packed week of global central bank meetings.<\/p>\n\n\n\n Fed funds futures imply an 89.4% probability<\/strong> of a 25-basis-point cut<\/strong> at the central bank\u2019s Dec. 9\u201310 meeting, according to CME\u2019s FedWatch tool.<\/p>\n\n\n\n Traders are also awaiting:<\/p>\n\n\n\n Bond markets showed tentative calm, with the 10-year Treasury yield at 4.1605%<\/strong>, easing slightly after a three-day climb to near three-month highs.<\/p>\n\n\n\n Longer-term policy expectations remain uncertain. Investors are dialing back forecasts for aggressive easing in 2026 amid doubts that Kevin Hassett<\/strong>, the frontrunner to replace Jerome Powell, will maintain a dovish stance if he becomes Fed chair next May.<\/p>\n\n\n\n The euro rose 0.1% to $1.1653<\/strong>, recovering from earlier pressure following a bund selloff.<\/p>\n\n\n\n ECB board member Isabel Schnabel<\/strong> told Bloomberg that the next policy move could theoretically be a rate hike<\/strong>, though not anytime soon. Her remarks added nuance to expectations that the ECB will keep policy on hold into 2026.<\/p>\n\n\n\n The Australian dollar climbed 0.3% to $0.6645<\/strong> after the Reserve Bank of Australia kept rates unchanged at 3.6% for a third straight month<\/strong>, as expected.<\/p>\n\n\n\n The RBA warned inflation risks could be persistent. Governor Michele Bullock<\/strong> later added that further rate cuts are not needed<\/strong>, giving the Aussie an additional lift.<\/p>\n\n\n\n The yen<\/strong> initially strengthened after a 7.5-magnitude earthquake<\/strong> struck northeastern Japan, prompting tsunami warnings. It later weakened slightly, trading 0.1% lower at 155.82 per dollar<\/strong>, as markets refocused on global rate expectations and a week loaded with central bank decisions.<\/p>\n\n\n\n Other major currencies:<\/p>\n\n\n\n The U.S. dollar held largely steady on Tuesday as traders braced for a widely expected interest-rate cut from the Federal Reserve, while the Australian dollar firmed after its central bank signaled no need for further easing. The U.S. dollar index dipped 0.1% to 98.977, with investors preparing not only for the Fed\u2019s decision but also …<\/p>\n","protected":false},"author":9,"featured_media":112137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,37,36],"tags":[],"class_list":["post-121563","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=121563"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121563\/revisions"}],"predecessor-version":[{"id":121564,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/121563\/revisions\/121564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/112137"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=121563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=121563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=121563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\n\n\nMarkets Brace for Fed Cut; Key U.S. Data Ahead<\/strong><\/h3>\n\n\n\n
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\n\n\n\nEuro Edges Higher After ECB Comments<\/strong><\/h3>\n\n\n\n
\n\n\n\nAussie Dollar Gains After RBA Pushes Back on More Cuts<\/strong><\/h3>\n\n\n\n
\n\n\n\nYen Softens After Quake; Other Majors Mixed<\/strong><\/h3>\n\n\n\n
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