Dollar Index Holds Above 102 as Market Awaits U.S. Economic Data

The dollar index rose slightly during the Asian session on Thursday, maintaining its position above the 102.00 level, close to the two-week high reached on Wednesday. Traders are awaiting the release of important U.S. macroeconomic data to find new drivers for market trends. The preliminary GDP for the third quarter and the personal consumption expenditures price index will be released later today. The market is betting on a rate hike by the Federal Reserve in December, and investors will closely monitor these data for clues about the Fed's future policy path. If the data is strong, it will further strengthen market expectations and push the dollar index higher. The Fed signaled a hawkish pause in rate hikes on Wednesday, and even if the data falls short of expectations, the market reaction may be relatively limited. Geopolitical risk premiums remain, and even if the dollar index experiences a technical pullback, it may attract buyers looking for bargains, limiting the extent of any decline.

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