Traders are closely monitoring Thursday's US initial jobless claims and Challenger layoff data, as the absence of the nonfarm payrolls report leaves a gap in labor market insights ahead of the December 10 FOMC meeting. Jobless claims are anticipated to increase slightly to 219,000 from 216,000 the previous week. Meanwhile, Challenger layoffs will provide an early indication of corporate downsizing trends. These figures are expected to significantly influence the dollar, Treasury yields, and investor sentiment regarding the Federal Reserve's upcoming policy decisions.