- US Dollar Index treads water after a volatile day, eyes third consecutive weekly loss.
- US activities shrunk in January even if the PMIs moderated, hawkish ECB concerns also weigh on DXY.
- Fed fund futures signal the policy pivot to be nearer than the US central bank signaled.
- Advances readings of US Q4 GDP are the key ahead of next week’s FOMC.
US Dollar Index (DXY) treads water around 101.90-95 as it struggles to pause late Tuesday’s pullback from 102.43 amid a sluggish Asian session on Wednesday. In doing so, the greenback’s gauge versus the six major currencies portrays the market’s cautious mood ahead of Thursday’s key US growth numbers and the next week’s Federal Open Market Committee (FOMC) monetary policy meeting.
It’s worth noting that the DXY failed to benefit from the sour sentiment on Tuesday amid mixed concerns surrounding the US activity data. That said, preliminary readings…
