USD Index appears bid and approaches 102.00 ahead of Payrolls – by pabspiovano DollarIndex Currencies Majors NFP
January Nonfarm Payrolls will take centre stage later., which gauges the greenback vs. a bundle of its main rivals, advances slightly and retargets the key 102.00 barrier at the end of the week.The index extends the bounce off 10-month lows near 100.80 recorded on Thursday and shifts its attention back to the 102.00 barrier against the backdrop of rising cautiousness ahead of upcoming key data releases.
: Rising conviction of a soft landing of the US economy. Slower pace of interest rate hikes by the Federal Reserve vs. shrinking odds for a recession in the next months. Fed’s pivot. Geopolitical effervescence vs. Russia and China. US-China trade conflict.Now, the index is gaining 0.11% at 101.84 and faces the next up barrier at 102.60 seconded by 102.89 and then 103.94 . On the downside, the breach of 100.82 would open the door to 100.00 and finally 99.81 .
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