Dollar drifts, risk-sensitive currencies lifted by China optimism

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Dollar drifts, risk-sensitive currencies lifted by China optimism - Business Standard

Quick Summary:

The remarks, which included guidance to the government to support household consumption and stabilise the troubled real estate market, came in an official readout of a monthly meeting of top Communist Party officials, the Politburo.

Investors will keep an eye on the personal consumption expenditures price index due to be released later on Friday, but analysts do not expect the data to materially shift market pricing for US rates unless there is a huge miss.

Data on Thursday suggested the US labour market remained fairly healthy, while other reports showed corporate profits increased at a more robust pace than initially thought in the second quarter, highlighting an upbeat economic outlook.