• The index keeps the bearish note above the 96.00 mark.
  • US Non-farm Payrolls rose by 199K jobs in December.
  • The unemployment rate ticked lower to 3.9%.

The selling interest around the greenback remains well and sound at the end of the week and keeps the US Dollar Index in the area above the 96.00 barrier in the wake of the Nonfarm Payrolls.

US Dollar Index remains side-lined

The index appears offered on Friday after the US economy created 199K jobs during last month, coming in short of expectations for a gain of 400K jobs. The November’s reading was revised to 249K (from 210K).

Further data showed the jobless rate eased to 3.9% and the critical Average Hourly Earnings – a proxy for inflation via wages – rose 0.6% MoM and expanded 4.7% from a year earlier. Another key gauge, the Participation Rate, improved a tad to 61.9%.

Later in the session, San Francisco Fed M.Daly (2024 voter, hawkish), Atlanta Fed R.Bostic (2024 voter, centrist) and Richmond Fed T.Barkin (2024 voter, centrist) are all due to speak.

US Dollar Index relevant levels

Now, the index is retreating 0.13% at 96.11 and a break above 96.46 (weekly top Jan.4) would open the door to 96.90 (weekly high Dec.15) and finally 96.93 (2021 high Nov.24). On the flip side, the next down barrier emerges at 95.57 (monthly low Dec.31) followed by 95.51 (weekly low Nov.30) and then 94.96 (weekly low Nov.15).

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