The US Dollar has shown signs of stabilization after a recent decline, with the DXY index recovering slightly from its multi-month low. The market’s focus remains on the upcoming Jackson Hole Symposium, where Federal Reserve Chair Jerome Powell’s speech will provide crucial insights into the central bank’s monetary policy outlook.

Economic Data and Market Sentiment

The release of the Nonfarm Payrolls Benchmark revision has offered some support for the US Dollar, with the downward revision coming in smaller than expected. While the broader economic picture remains positive, market participants are still focused on the potential for interest rate cuts.

The CME Fedwatch Tool continues to indicate a high probability of a 25 basis point rate cut in September, with expectations for further easing in the coming months.

Technical Outlook

The DXY index has found support near the 101.30 level, halting its downward momentum. However, the overall bearish trend remains intact. The index is trading below key moving averages, and momentum indicators suggest continued selling pressure.