FX.co ★ Dollar Weakens as Soft US Data Fuels Rate Cut Bets

On Wednesday, the dollar index initially showed gains but eventually fell to 98.1 as investors processed July's unexpectedly weak job openings and their potential effects on Federal Reserve policy. The JOLTS report indicated that job openings decreased by 176,000 to 7.18 million—its lowest since September 2024 and below the projected 7.4 million. Complementing the cautious market sentiment, US factory orders also saw a decline for a second consecutive month in July. Markets are now anticipating the crucial August payroll figures expected on Friday. Current market predictions suggest a nearly 90% likelihood of a 25 basis point cut by the Federal Reserve this month. In other developments, growing global debt concerns have increased demand for safe-haven assets.