On Thursday, the US Dollar struggled as investors expressed caution following disappointing economic indicators such as the ISM Services PMI falling into contraction and a weak ADP payroll report indicating only 37,000 job additions. Concerns are growing regarding tariff-related uncertainties affecting business momentum and consumer demand. However, comments from Fed officials, including Governor Lisa Cook's warning about inflation rises due to tariffs and Atlanta Fed President Bostic's remarks on a potential rate cut, may provide some support for the dollar amidst this pressure, particularly with crucial job reports forthcoming.
Despite the weak data, the greenback could find some support in Fed officials' caution. Fed Governor Lisa Cook warned that tariffs could push inflation higher.
Investor sentiment leaned toward caution amid a string of disappointing economic indicators, including a contraction in the ISM Services PMI for the first time in nearly a year.
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