(MENAFN- Your Mind Media ) The dollar index held steady on Friday, consolidating after Thursday’s decline as investors awaited the preliminary Michigan Consumer Sentiment reading for November. The index is expected to fall to 53.2 from 53.6, extending its downward trend since August.
A weaker sentiment reading could weigh on the US outlook, reinforcing expectations for a more dovish Federal Reserve stance and potentially pressuring both the dollar and Treasury yields. Still, yields provided some support, with the 10-year note holding firm above 4.10% as traders reacted to cautious remarks from Chicago Fed President Austan Goolsbee, who warned that the absence of official inflation data during the government shutdown complicates policy decisions.
Markets now price roughly a 65% chance of a December rate cut. Expectations have been changing rapidly as markets reacted to new data. Data released Thursday showed 153,000 announced job cuts in October, the highest for that month in 22 years, contrasting with better-than-expected ADP figures.

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