FXStreet (Edinburgh) – The greenback, gauged by the US Dollar Index, has accelerated its intraday decline to the area sub-96.00 post-Non-farm Payrolls.
DXY softer on poor US data
The dollar has shed initial gains vs. its rivals after the US Non-farm Payrolls disappointed markets during June, coming in at 223K vs. 233K expected and down from 254K posted in May (revised lower from 280K). Average Hourly Earnings and Initial Claims has also missed expectations at 0.0% and 281K, respectively.
On the bright side, the unemployment rate ticked lower to 5.3% vs. 5.5% initially forecasted. Next on tap will be Factory Orders, expected to have contracted 0.5% inter-month during May.
DXY relevant levels
As of writing the index is retreating 0.36% at 95.96 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)