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8 May 2015
DXY surrenders gains, back to 94.60
FXStreet (Edinburgh) - After an ephemeral test of the 95.00 handle post-Payrolls, the US Dollar Index has trimmed earlier gains and is now back near the 94.60 area.
DXY capped by 95.00
The index could not sustain the upside just beyond the 95.00 handle after today’s Non-farm Payrolls practically matched consensus at 225K during April, quickly triggering a correction lower and looking to stabilize around the 94.60 area.
Additional results from the monthly report on the US labour market was the significant revision lower to 85K (from 126K) in March’s payrolls, while the jobless rate ticked lower to 5.4% and the Average Hourly Earnings rose 2.2% on an annual basis.
DXY relevant levels
The index is now advancing 0.02% at 94.65 with the initial resistance at 95.06 (high May 8) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29). On the downside, a drop below 93.89 (low May 7) would aim for 93.80 (low Feb.17) and then 93.26 (low Feb.3).
DXY capped by 95.00
The index could not sustain the upside just beyond the 95.00 handle after today’s Non-farm Payrolls practically matched consensus at 225K during April, quickly triggering a correction lower and looking to stabilize around the 94.60 area.
Additional results from the monthly report on the US labour market was the significant revision lower to 85K (from 126K) in March’s payrolls, while the jobless rate ticked lower to 5.4% and the Average Hourly Earnings rose 2.2% on an annual basis.
DXY relevant levels
The index is now advancing 0.02% at 94.65 with the initial resistance at 95.06 (high May 8) ahead of 95.62 (high May 4) and finally 96.18 (high Apr.29). On the downside, a drop below 93.89 (low May 7) would aim for 93.80 (low Feb.17) and then 93.26 (low Feb.3).