Dollar Steady as Investors Await Key U.S. Economic Data and Powell's Speech

The U.S. dollar remained stable on December 4, 2024, as investors anticipated significant economic data releases and a forthcoming speech by Federal Reserve Chairman Jerome Powell. Analysts at UniCredit suggest that a downturn in the dollar is possible if upcoming data indicates economic weakness. They also note that Chairman Powell may signal a potential rate cut at the December 18 meeting, though the final decision will hinge on the latest economic indicators.Market participants are closely monitoring these developments to gauge the Federal Reserve's monetary policy trajectory and its implications for the dollar's performance.