Today, the ISM manufacturing index will be in focus. There is a risk that it hits the 50.0 mark (or above) for the first time since October 2022, which can reinforce expectations of an extra-resilient economic environment in 1Q. 

Given the index has been in contraction for a very long time, downside surprises may not have the same impact as a rebound to 50+. So, there are some upside risks for the Dollar today, although data in the Eurozone can also play a role in price action before the weekend. 

All in all, we stand by our call for DXY to end the week above 104.00.