• US job openings for July arrived at 7.67 million, weaker than expected.
• Fed Beige Book notes modest price increases and slight economic growth.
• Markets remain overconfident on a super-dovish Fed.

The US Dollar Index (DXY), a measure of the USD against a basket of six currencies, snapped its recovery streak on Wednesday after a disappointing report on US job openings and a mixed outlook from the Federal Reserve's (Fed) Beige Book.

Overall, the US economy remains in a state of expansion, surpassing its expected growth rate, but the soft tone of the labor market gives the market reason to bet on a dovish Fed.