Dollar Stumbles on Mixed Economic Signals

The US Dollar Index is struggling to maintain its value as it attempts to settle below the key support level of 99.85-100.00.

This comes after the release of several economic indicators, including personal spending and income data for June. Personal spending increased by +0.3% month-over-month in line with analyst estimates, while personal income grew at a slower pace of +0.2%, missing expectations of +0.3%.

The PCE Price Index also saw a decline from 4.1% in May to 3.7% in June, meeting analyst forecasts.

In related news, the Initial Jobless Claims report revealed that 197,000 Americans filed for unemployment benefits last week, slightly below the predicted 200,000.