The focus of yesterday's New York session was the United States (US) economic growth report for the market to assess the final reading of Gross Domestic Product (GDP) for the second quarter of 2024.
As expected, the figure remained at 3.0% as the previous reading was published last August.
Also published alongside were US jobless benefits claims for last week which came in lower than forecast, a positive sign.
Also, US durable goods order data recorded a better reading for August than market forecasts.
The US dollar showed a mixed reaction at the start of the New York session as investors scrutinized the published data, but was seen starting to move weakly towards the end of the session.
The focus at the end of this week will be on the PCE price index which measures consumer personal spending in the US, one of the components of inflation that the Federal Reserve (Fed) pays attention to in its policy-setting decisions.
The Fed, which is expected to continue policy easing supported by FOMC members, is seen to continue to pressure US dollar trading.
The Swiss National Bank (SNB) at its policy meeting yesterday also lowered interest rates to 1.00%, making it the third rate cut in a row this year.
Investors can see that the global monetary policy situation is currently shifting to an easing phase in an effort to stabilize the economies of their respective countries.
