US Dollar Index struggles to justify hawkish Fedspeak below 105.00, US Core PCE Inflation eyed – by anilpanchal7 DollarIndex RiskAppetite Fed Inflation Currencies
Fed policymakers keep suggesting higher rates for longer, US PMIs eased in December. drops to 104.70 as it pauses the two-day uptrend amid a sluggish start to the week. In doing so, the greenback’s gauge versus the six major currencies prints mild losses even as the US Federal Reserve policymakers appear hawkish in their latest comments.
It should be noted, however, that downbeat US PMIs and the Fed’s hesitance seem to tease the DXY bears ahead of the US central bank’s preferred inflation gauge, namely the US Core Personal Consumption Expenditures -for November, up for publishing on Friday. Recently, the US S&P Global Manufacturing PMI dropped to 46.2 from 47.7 in November, as well as the market expectation of 47.7. Further, S&P Global Services PMI declined to 44.4 in December's flash estimate from 46.
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