The dollar index is down -0.11% due to expected Fed rate cuts, with the US Sep Empire manufacturing survey falling to a three-month low. Concerns over Fed independence and foreign investor reactions are also impacting the dollar. Markets expect a -25 bp rate cut at the FOMC meeting, with an 89% chance of a second cut by Oct 28-29, totaling a -70 bp cut by year-end. EUR/USD is up +0.17%, supported by ECB rate-cut comments. Precious metal prices are mixed, with gold up +0.33% and silver down -0.22%, benefiting from a weaker dollar and rate cut expectations. China reports show weaker economic data, affecting global markets.

Read more at Yahoo Finance: Dollar Weighed Down by Fed Rate Cut Expectations