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US Dollar Index clings to mild losses above 104.00 ahead of US PMIs

  • US Dollar Index pares the biggest daily gain in 10 weeks amid sluggish session.
  • Mixed US statistics, Fed’s hesitance in praising hawks keep sellers hopeful.
  • Recession woes and Sino-American tensions keep buyers hopeful ahead of December PMIs.

US Dollar Index (DXY) makes rounds to 104.30-40 as it prints mild losses heading into Friday’s European session. In doing so, the greenback’s gauge versus the six major currencies consolidates the biggest daily gain since early November, marked the previous day.

The DXY’s failure to defend the previous day’s rebound from a six-month low could be linked to recently mixed data in the US and a lack of a major catalyst during early Friday. It’s worth noting that the US Retail Sales flashed -0.6% MoM figure in November versus 0.1% expected and 1.3% prior. Further, manufacturing survey details from Philadelphia Fed and New York Fed came in disappointing for the…

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