- DXY is weaker around 92.70 .
- The risk-on sentiment dominates.
- Markit’s manufacturing & services PMIs in focus .
The US Dollar Index (DXY), which measures the US Dollar against a basket of its major peers, is under pressure around 92.70 on Friday.
US Dollar Index looks to data
The index continues to trend lower after a brief spike higher on Thursday.
Headlines indicating that US stimulus will likely now come after the November elections initially boosted the index beyond the key 93.00 early in the session.
However, positive readings from manufacturing PMIs in the euro area for October boosted risk sentiment pulling the US Dollar lower..
October’s manufacturing/services/composite PMI gauges will be in focus later in addition to Baker Hughes’ weekly report on the US drilling activity.