US Dollar Index pushes higher to 92.20 on stellar Payrolls

  • DXY surpasses the 92.00 mark and clinch 2021 highs.
  • The US economy added nearly 380K jobs in February.
  • The jobless rate eased to 6.2% (from 6.3%).

The march north in the greenback remains unabated and trade in fresh 2021 highs beyond the 92.00 hurdle when tracked by the US Dollar Index (DXY).

US Dollar Index firmer on higher yields

The index stays bid around the 92.00 neighbourhood on Friday after the US Nonfarm Payrolls largely surpassed forecasts during February. In fact, the economy added 379K jobs and revised the previous print to 166K jobs.

Further upbeat results saw the Unemployment Rate decreasing a tad to 6.2% (from 6.3%), the Participation Rate unchanged at 61.4% and the Average Hourly Earnings gaining 0.2% from a month earlier.

The push higher in the buck beyond 92.00 was also helped by yields of the US 10-year benchmark briefly testing levels above the 1.60% yardstick for the first time since February 2020.

US Dollar Index relevant levels

At the moment, the index is gaining 0.33% at 91.94 and a breakout of 92.19 (2021 high Mar.5) would open the door to 92.46 (23.6% Fibo of the 2020-2021 drop) and finally 92.93 (200-day SMA). On the other hand, the next support emerges at 90.47 (50-day SMA) seconded by 89.68 (monthly low Feb.25) and then 89.20 (2021 low Jan.6).

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

Get Weekly Crypto trade ideas!  
Empower yourself with the best market insights

Join FXStreet Premium!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD slips below 1.2050 amid dollar strength

EUR/USD is trading below 1.2050, losing some of its gains as the dollar shrugs off the fresh drop in yields and rises. European regulators said the benefits of J&J's vaccine outweigh the risks.


GBP/USD retreats from 1.40 despite upbeat UK job figures

GBP/USD is extending its falls after retreating from 1.40 as the dollar edges higher. Earlier, the UK reported a drop in the unemployment rate to 4.9%, better than expected. The Claimant Count Change also beat estimates with 10.1K. 


XAU/USD tests key Fibo resistance at $1,775

XAU/USD rebounds after closing in the negative territory on Monday. 10-year US Treasury bond yield is edging lower on Tuesday. Additional gains are likely if gold manages to clear $1,775 resistance.

Gold News

Ethereum price on cusp of massive breakout if key level holds

Ethereum price had a significant 23% correction in the past week but holds above a key support level on the 12-hour chart. The digital asset still has robust on-chain metrics supporting it and aims for a rebound.

Read more

S&P 500 (SPX) Update: Equity markets take a well deserved breather, crypto stocks slide

Equity markets took a much-needed break from setting record highs on Monday. Tesla suffered a steep 5% fall after reports of a crash with no one at the wheel. Have a Coke and a smile was up 1% as KO smashed earnings estimates.

Read more