It’s worth noting that the Greenback cheered mostly upbeat inflation and activity data the previous day to recover after declining for three days to Wednesday. While checking the numbers, it can be known that the Fed’s preferred inflation gauge, namely the US Core Personal Consumption Expenditure (PCE) Price Index for August, matched market forecasts of 4.2% YoY and 0.2% MoM versus 4.1% and 0.2% respectively priors. Further, the Initial Jobless Claims dropped to 228K from 232K prior (revised) versus 235K market forecasts while the Chicago Purchasing Managers’ Index rose to 48.7 for August compared to 44.1 expected and 42.8 previous readings. Additionally, Personal Spending rose past the 0.6% expected and previous readings to 0.8% for July whereas Personal Income eased to 0.2% for the said month, from 0.3% market forecast and prior.
On the other hand, the US Dollar Index (DXY) reaches intraday high near 103.75 as it extended the previous day’s recovery from the 200-DMA amid the market’s preparations for the Nonfarm Payrolls (NFP).
That said, Russia’s S&P Global Manufacturing PMI for August rose the most in three months while posting a 52.7 figure versus 52.1 initial estimations. Earlier in the week, Russian Unemployment Rate also dropped to 3.0% for July from 3.1% prior and 3.2% market forecasts.
USD/RUB remains on the bull’s radar unless it stays beyond a three-month-old ascending support line, close to 94.55 by the press time.