Dollar tries to recover ahead of major US data

Dollar rose in European trade against a basket of major rivals away from recent eight-month lows, but gains remain limited due to Fed interest rate prospects. 

Now investors await important US data later today for January, which will provide important clues on first quarter growth. 

The Index

The dollar index rose 0.2% to 102.17, with a session-low at 101.71, after rising 0.1% yesterday, the first profit in three days away from eight-month lows at 101.52. 

Fed Rates

Pricing for a 0.25% rate hike by the Federal Reserve in February stands at 100%, slowing it down from recent 0.5% rate hikes.

Major Sectors

Now investors await a batch of crucial important data later today on the US economy, including the manufacturing PMI, expected at 46 in January, down from 46.2 in December, and the services PMI, expected at 45.3.