• The index gyrates without direction above the 107.00 mark.
• Markets seem to have entered the usual pre-NFP lull.
• The ADP report, ISM Services PMI will be in the limelight.

The greenback, in terms of the USD Index (DXY), alternates gains with losses above the 107.00 mark so far on Wednesday.

USD Index focuses on US data, Fedspeak

The index seems to have entered a consolidative phase around the area of 2023 tops beyond the 107.00 yardstick against the backdrop of further upside in US yields across the curve and a tepid improvement in the risk complex.

In the meantime, the intense upside bias in the index was further underpinned by hawkish comments from Fed rate-setters and firm speculation of an extra rate hike by the Federal Reserve before the end of the year.

Interesting session data-wise in the US will see the release of the weekly Mortgage Applications by MBA, the ADP report, final readings of the Services PMI, Factory Orders and the always-relevant ISM Services PMI