Anna 
The U.S. dollar is poised for a period of consolidation in the coming days, with investors closely monitoring the November ISM manufacturing data. The foreign exchange (FX) markets remain highly sensitive to any active data points that may influence the dollar’s trajectory. Despite potential risks from consumer spending and PCE concerns, USD bulls have shown resilience.
There is a prevailing sentiment that the manufacturing sector is experiencing a contraction, and today’s ISM data may not have a significant impact unless an unexpected event occurs. The idea of manufacturing shrinkage has become firmly established.
While expectations lean towards a consolidation phase for the U.S. dollar, there are still upside risks as it reestablishes its advantage in interest rates. The outcome of the ISM manufacturing data will play a crucial role in shaping the near-term outlook for the dollar in the dynamic FX landscape.
