FXStreet (Edinburgh) – The US Dollar Index, which gauges the greenback vs. its major rivals, is trading almost unchanged around the mid-95.00s.
DXY focus on Non-farm Payrolls
The US dollar is looking to extend yesterday’s rebound from the 94.70 area, although it still remains far from Monday’s levels in the 97.70 region. A sharp sell off in the German Bunds throughout the week dragged the index to multi-session lows, although better results from the US ADP report and Initial Claims ultimately gave some support to the dollar.
Ahead in the session, the most relevant event will be the Non-farm Payrolls, with consensus expecting the US economy to have added 225K jobs during May.
DXY relevant levels
The index is now gaining 0.03% at 95.49 with the initial resistance at 96.51 (high Jun.3) 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)