USD Index rebounds from fresh lows near 104.00 ahead of data – by pabspiovano DollarIndex Currencies Majors
The dollar drops to new 6-month lows near 104.00 earlier on Monday.The greenback, when tracked by theUSD Index now focuses on data
The recovery in the dollar comes in line with so far marginal price action in US yields across the curve, as market participants continue to digest Friday’s Nonfarm Payrolls figures while investors seem to have already fully priced in a half-point interest rate hike at the Fed’s meeting on December 14.
While hawkish Fedspeak maintains the Fed’s pivot narrative in the freezer, upcoming results in US fundamentals would likely play a key role in determining the chances of a slower pace of the Fed’s normalization process in the short term.: Final Services PMI, ISM Non-Manufacturing PMI, Factory Orders – Balance of Trade – MBA Mortgage Applications, Consumer Credit Change – Initial Jobless Claims – Producer Prices, Advanced Michigan Consumer Sentiment, Wholesale Inventories .
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