Traders start positioning for next week’s FED meeting

The dollar remains weak, but traders have begun squaring positions ahead of a Federal Reserve meeting next week, with the central bank widely expected to raise rates by 25 basis points.

That said, the focus remains largely on whether the Fed will signal an extended pause in its rate hike cycle, given recent softness in U.S. inflation.

The Philadelphia Fed manufacturing index, jobless claims and housing sales headline an otherwise sparse data calendar Thursday.