US Dollar retakes 102.00 after Payrolls

The US Dollar Index (DXY) – which tracks the buck vs. its main competitors – has accelerated the upside today, regaining the key barrier at 102.00 the figure.

US Dollar bid post-NFP

The demand for the greenback has picked up extra pace following the report on US labour market for the month of December, with Non-farm Payrolls coming in at 156k vs.178k forecasted and November’s revised 204K. in addition, the jobless rate ticked higher to 4.7%.

On the bright side, Average Hourly Earnings rose more than estimated 0.4% inter-month, taking the annualized gain to 2.9%, both print surpassing consensus.

The results added extra wings to USD, which has extended the rebound from daily lows in the mid-101.00s.

Looking ahead, November’s Factory Orders are next on tap followed by speeches by Chicago Fed C.Evans (voter, dovish) and Richmond Fed J.Lacker (2018 voter, hawkish). Previously, Cleveland Fed L.Mester (hawkish) said that three rate hikes during the current year seems reasonable.

US Dollar relevant levels

The index is gaining 0.63% at 102.03 facing the next hurdle at 102.42 (20-day sma) ahead of 103.81 (2017 high Jan.4) followed by 107.38 (monthly high Dec.2002). On the flip side, a breakdown of 101.37 (low Jan.6) would open the door to 100.75 (low Dec.14) and then 100.65 (55-day sma).