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US Dollar Index unchanged above 96.00 after NFP report

  • The index maintains the bearish note above 96.00.
  • US nonfarm payrolls increased by 199,000 jobs in December.
  • The unemployment rate fell to 3.9%.

Selling interest around the dollar remains good and solid at the end of the week and keeps the US dollar index in the area above the 96.00 barrier on nonfarm payrolls.

The US dollar index remains lateralized

The index is offered on Friday after the US economy created 199,000 jobs last month, disappointing expectations of a 400,000 job gain. The November reading was revised to 249,000 (from 210,000).

Other data showed that the unemployment rate fell to 3.9% and critical average hourly earnings, an indicator of inflation through wages, rose 0.6% month-on-month and expanded 4.7% from a year earlier. Another key indicator, the participation rate, improved slightly to 61.9%.

Later in the session, M. Daly San Francisco Fed (2024 voter, aggressive), Atlanta Fed R. Bostic (2024 voter, centrist), and Richmond Fed T. Barkin (2024 voter, centrist) ) will give statements.

Technical levels

Now the index is retreating 0.13% to 96.11 and a break above 96.46 (weekly high on Jan 4) would open the door to 96.90 (weekly high on Dec 15) and finally to 96.93 (high on Nov 24, 2021). On the other hand, the next descending barrier emerges at 95.57 (monthly low on December 31) followed by 95.51 (weekly low on November 30) and then 94.96 (weekly low on November 15).

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