FXStreet (Edinburgh) – The greenback, in terms of the US Dollar Index, clinched session tops beyond 96.60 following Payrolls numbers.
DXY trims weekly losses
The US dollar has been propelled to the area of 96.65/70 after US Non-farm Payrolls surprised markets to the upside during May, coming in at a stellar 280K vs. 225K initially forecasted and 221K previous. Additional data showed Average Hourly Earnings ticking higher to 0.3% on a monthly basis, surpassing both estimates and April’s reading.
In the meantime, the index keeps trimming the recent drop from the 97.70 area, extending the bounce off yesterday’s troughs around the 94.70 area.
DXY relevant levels
The index is now gaining 1.11% at 96.52 with the initial resistance at 96.66 (high Jun.5) followed by 97.68 (high Jun.1) and finally 97.77 (high May 27). On the other hand, a breakdown of 94.73 (low Jun.4) would open the door to 94.09 (low May 19) and then 93.89 (low May 7).
(Market News Provided by FXstreet)