FXStreet (Edinburgh) – The US Dollar Index, which measures the greenback vs. a basket of its main rivals, has managed to rebound from session lows near 95.90 post-NFP.
DXY lower on US data
The index left the area of multi-week tops near 96.40 following disappointing releases in the US economy today, with June’s Non-farm Payrolls, Initial Claims, Average Hourly Earnings and Factory Orders all missed expectations. On the positive side, however, the unemployment rate dropped to 5.3% vs. 5.5% anticipated.
Despite the current decline, the dollar manages well to keep the trade above the key 96.00 mark ahead of Friday’s inactivity in the US markets due to the Independence Day.
DXY relevant levels
As of writing the index is retreating 0.25% at 96.06 and a drop below 94.30 (low Jun.23) would aim for 93.81 (low Jun.22) and finally 93.57 (low Jun.18). On the flip side, the initial resistance aligns at 96.41 (high Jul. 2) ahead of 96.54 (high Jun.8) and then 96.91 (high Jun.5).
(Market News Provided by FXstreet)