US Dollar holds on near 98.60 on Non-farm Payrolls

The US Dollar Index (DXY) – which tracks the buck vs. its main rivals – has managed to bounce off fresh 2017 lows at 98.55 following US Payrolls.

US Dollar unchanged on Payrolls

The index lost further momentum on Friday despite the US economy added 211K jobs during April, more than initially estimated. Further positive data showed the unemployment rate ticking lower to 4.4%, also beating forecasts.

In addition, Average Hourly Earnings expanded at a monthly 0.3% and 2.5% over the last twelve months (vs. March’s 2.7% gain).

USD extended the drop to fresh 2017 lows at 98.55, although dip-buyers seems to have appeared and are now lifting DXY back to the 98.60/70 band.

Following the jobs report, market participants will now look to the speeches by Chief J.Yellen and Vice Chair S.Fischer along with San Francisco Fed J.Williams (2018 voter, hawkish) and Boston Fed E.Rosegren (2019 voter, hawkish).

US Dollar relevant levels

The index is gaining 0.01% at 98.61 facing the next hurdle at 99.01 (12-month support line) ahead of 99.08 (200-day sma) and finally 99.34 (high May 4). On the flip side, a break below 98.56 (2017 low Apr.25) would aim for 96.94 (low Nov.4 2016) and then 95.91 (low Nov.9 2016).


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

AUD/USD sits at two-month highs near 0.7375

AUD/USD keeps its range near two-month highs of 0.7375 despite a big miss on the Australian Q3 Capex data. The bulls retain control as the US dollar remains on the back foot across the board, in the face of renewed US economic growth concerns. 


USD/JPY revisits Wednesday's low as weak US data keeps dollar under pressure

USD/JPY drops over 20 pips in Asia to test Wednesday's low. USD/JPY is feeling the pull of gravity with the dollar drawing offers, possibly on disappointing US data released Wednesday. Disappointing US jobs data and dovish Fed minutes weigh over the dollar.


Gold hovers within the range of Wednesday's Doji candle

Gold's daily chart shows signs of indecision in the market. Wed's high and low are levels to beat for bulls and bears, respectively. A Doji candle represents indecision in the market and makes the following day's close pivotal.

Gold news

Markets return to normal, and traders may be loving it

Calendar comeback – currencies begin moving to the tune of economic indicators, a welcome return for traders. Valeria Bednarik, Joseph Trevisani, and Yohay Elam discuss the latest market moves and what to expect in the final stretch of 2020 and beyond.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info