The dollar index fell by -0.50% to a 5-week low due to a weak Nov ADP report, increasing expectations for a Fed rate cut. US MBA mortgage applications dropped -1.4%, with purchase mortgages up +2.5% and refinancing down -4.4%. The Nov ADP employment change saw a surprising -32,000 decline, the largest in over 2.5 years.

President Trump plans to announce the new Fed Chair in early 2026, with Kevin Hassett seen as the likely choice. Eurozone Nov S&P composite PMI hit a 2.5-year high, supporting the euro against the weakening dollar. Precious metals rose amid expectations of a Fed rate cut, with gold and silver prices mixed due to dollar weakness.

Read more at Yahoo Finance: Dollar Declines on Soft US Labor Market News