The Revised University of Michigan Consumer Sentiment survey was released, showing a drop to 92.0 for January from the initial estimate of 93.3, missing forecasts of 93.1. December's reading was at 92.6. 

As of 04:11 GMT, the U.S. dollar index, which measures the greenback against a basket of rival currencies, soared to 99.61, compared to the opening of 98.66, with an intraday high at 99,62, and a low at 98.58. 

Other data in the survey showed another drop in economic conditions to 106.4 from 108.1 in December's reading, while economic expectations remained flat at 82.7. 

Similarly, inflation expectations for the coming year came at 2.5%, compared to 2.6% in December, while five-year expectations rose to 2.7% from 2.6% in December. 

Platinum prices gave up ground in American trade as the U.S. dollar surged according to their inverse relation, following the BoJ's rate cut. The developments come about after a spate of negative data showing a big slowdown in GDP growth in the fourth quarter, while the goods trade balance deficit rose unexpectedly in November.  

As of 03:44 GMT, spot Platinum prices fell 0.17% to $866.75 an ounce from the opening price of $867.95, with an intraday high at $873.00, and a low at $859.70. 

The U.S. dollar index, which measures the greenback against a basket of rival currencies, soared to 99.47, compared to the opening of 98.66, with an intraday high at 99,48, and a low at 98.58. 

Earlier data showed a sharp slowdown in U.S. GDP in fourth quarter to a growth of 0.7%, compared to 2.0% in third quarter, and analysts' expectations of 0.8%, while the Advance GDP Price Index rose 0.8% in fourth quarter, less than 1.3% in third quarter and expectations of a 1.2% growth. Additionally, Personal Consumption Expenditures Prices slowed down in fourth quarter to a growth of 2.2%, compared to 3.0% in third quarter, but is higher than forecasts of 1.8%, while Core Personal Consumption Expenditures rose 1.2%, in line with expectations and compared to 1.4% in the previous reading.

Also, the U.S. goods trade balance, which constitutes a third of the whole trade balance, recorded a deficit of $61.5 in November, missing the expectations of a $60.0 deficit, and compared to October's $60.3 deficit. 

Chicago PMI soared 12.7 points in January, the biggest growth in a year, to 55.6 from 42.9 in December, much better than expectations of 45.4. 

U.S. advance GDP data for fourth quarter showed a sharp slowdown to a growth of 0.7%, compared to 2.0% in third quarter, and analysts' expectations of 0.8%, while the Advance GDP Price Index rose 0.8% in fourth quarter, less than 1.3% in third quarter and expectations of a 1.2% growth. 

Additionally, Personal Consumption Expenditures Prices slowed down in fourth quarter to a growth of 2.2%, compared to 3.0% in third quarter, but is higher than forecasts of 1.8%, while Core Personal Consumption Expenditures rose 1.2%, in line with expectations and compared to 1.4% in the previous reading.