US Dollar cautious around 100.60, NFP eyed

The greenback, in terms of the US Dollar Index, is trading in tight range around 100.60 early in the European session ahead of the publication of March’s Non-farm Payrolls.

US Dollar attention to Payrolls

The upside momentum in the buck stays well and sound so far this week, prompting the index to remain on its way to clinch its second consecutive week with gains, while market participants are waiting for the release of the critical US jobs report for the month of March.

Consensus among investors sees the US economy to have added 180K jobs during last month vs. 235K seen during February, although the main focus will once again be on the Average Hourly Earnings, a gauge of wage inflation.

No noticeable reaction of the buck following the US missile attacks on a Syrian airbase early on Friday, although effervescence between Russia and the US seems poise to escalate with the hours.

In the meantime, yields in US money markets are recovering from earlier lows, with the 10-year benchmark briefly dipping below the 2.30% level.

US Dollar relevant levels

The index is down 0.05% at 100.56 facing the initial support at 99.50 (low Mar.29) followed by 98.92 (low Mar.28) and finally 98.67 (low Mar.27). On the other hand, a break above 100.99 (high Apr.5) would aim for 101.10 (100-day sma) and then 101.50 (78.6% Fibo of he March sell-off).