US Dollar trades flat after weak economic activity figures

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• The DXY index first declined to 104.00 and then jumped back to 104.30.
• Jobless Claims accelerated in the first week of November, while Industrial Production from October disappointed. 
• The mix of the labor market cooling down and inflation retreating is making investors believe Fed rate hiking cycle is over.

The US Dollar (USD) traded flat on Thursday and rotated within the 104.00 to 104.30 range. The USD remains pressured as markets place additional bets on the Federal Reserve (Fed) being less aggressive than expected after weak Jobless Claims and Industrial Production figures from the US.