• The US Dollar eases ahead of a packed data release on Thursday.
• President Biden faces setbacks from famous supporters calling for him to step down. 
• The US Dollar index hovers around 105.00, though tilted to the downside. 

The US Dollar (USD) edges lower for a second day in a row when measured by the US Dollar Index. The Greenback does not have much reason to rally firmly, with uncertainty creeping in its valuation after big names such as Nancy Pelosi and actor George Clooney came out on social media asking for President Joe Biden to drop out of the race and pave the way for a better candidate. It is a big blow for the current ruling President as concerns keep biting away at the polling numbers. 

On the economic front, only one element counts on Thursday: the US Consumer Price Index (CPI) in all its forms and colours. Traders will want to see at least the disinflationary nature of the numbers being confirmed, which should keep markets on track for an interest rate cut in September. Add in the weekly Jobless Claims data, and the US Dollar might be easing a bit further on the back of any upticks in the Jobless numbers.