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8 Mar 2019

US Dollar Index around 97.40 on poor NFP

  • The index drops to lows but rebounds on poor NFP results.
  • Yields of the US 10-year note drop further to 2.62%.
  • US Payrolls came in at just 20K in February.

The US Dollar Index (DXY), which tracks the greenback vs. a basket of its main rivals, remains on the defensive today although it has managed to rebound from daily lows in the 97.30/25 band.

US Dollar Index drops to lows on Payrolls

DXY has tumbled to fresh daily lows after US Non-farm Payrolls disappointed expectations in February, showing the economy added just 20K jobs vs. 180K forecasted and much lower than January’s 311K.

Further publications saw the key Average Hourly Earnings – a proxy for inflation via wage pressure – surprising to the upside, up 04% inter-month and 3.4% from a year earlier. In the meantime, the jobless rate ticked lower to 3.8% from 4.0%.

Additional auspicious data from the US housing sector saw Building Permits and Housing Starts expanding at a monthly 1.4% and 18.6%, respectively, both prints surpassing estimates.

US Dollar Index relevant levels

At the moment, the pair is losing 0.25% at 97.36 and a break below 97.25 (low Mar.8) would open the door to 96.72 (21-day SMA) and then 96.32 (55-day SMA). On the upside, the next up barrier emerges at 97.71 (2019 high Mar.7) seconded by 97.87 (monthly high Jun.20 2017) and finally 99.89 (monthly high May 11 2017).

Mar 8, 2019

USD/JPY slides below 111 as USD weakens on disappointing NFP figures

The USD/JPY pair lost nearly 40 pips in a matter of minutes after the market reaction to the disappointing nonfarm payrolls data from the United State
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Mar 8, 2019

AUD/USD pops and drops on nonfarm payrolls miss, but bets are still for a break below 0.70 handle

AUD/USD popped on the release of the headline miss from 0.7027 to a high of 0.7050 before being faded on detail in the data that are still rather soli
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