US Dollar takes a hit post-NFP, drops to 95.20

The greenback, tracked by the US Dollar Index, is shedding further ground in the wake of August’s Payrolls, now navigating in daily lows in the 95.30/20 band.

US Dollar weaker after NFP miss

The index is now dropping for the second consecutive session after US Non-farm Payrolls have missed estimates for the month of August, coming in at 151K vs. 180K initially forecasted and lower than July’s 275K (revised from 255K).

The US jobless rate has followed suit, staying put at 4.9% for the same period vs. a forecasted drop to 4.8%. In the same grim line Average Hourly Earnings rose a meagre 0.1% inter-month, also missing expectations.

USD is now on its way to close the week in red figures after the previous significant advance.

US Dollar relevant levels

The index is retreating 0.27% at 95.39 facing the immediate support at 94.78 (61.8% Fibo of the June-July up move) followed by 94.66 (support line off 2016 low) and then 94.05 (low Aug.18). On the flip side, a break above 96.29 (200-day sma) would open the door to 96.50 (high Aug.5) and finally 96.86 (high Jun.27).