Daily digest market movers US Dollar mixed, cooling dovish bets on the Fed favors the upside

The US Dollar has eased from its recent highs as investors take profits after its recent rally against major currencies.

Chinese economic data and details of the government's stimulus package contributed to the USD's mild pullback.

Fed Chair Jerome Powell emphasized a cautious approach to rate cuts, highlighting the economy's strength.

Other Fed officials, including Kugler, echoed Powell's message, stressing the need to monitor both inflation and unemployment.

Market expectations for a December rate cut have declined in response to Powell's comments. 

On the data front, Housing Starts in the US dropped by 3.1% in October, reaching 1.311 million units, according to Tuesday’s monthly report from the US Census Bureau. 

Building Permits fell by 0.6% in October after a revised 3.1% decrease in September, which was initially reported as a 2.9% decline.