The US Dollar Index (DXY) rose to 102.29 after the release of the US March jobs report and then pulled back toward 102.00, amid risk appetite. The numbers boosted US yields and equity futures on a tight volume session.
After NFP, attention turns to CPI
The US Labor Department's announced that Nonfarm Payrolls increased by 236K in March, against the market consensus of 240K. The Unemployment Rate fell from 3.6% to 3.5%, even as the Labor Participation Force rose. Average hourly earnings rose by 0.3% MoM, matching consensus.
The negative surprise that could be expected following the latest economic reports did not happen and could explain why the Dollar reacted to the upside. Now attention turns to next week's US Consumer Price Index data.
The DXY is rising on Friday, as it trades slightly above 102.00. Despite posting the third consecutive gain, it is still down for the week. It will be the fourth weekly slide in a row.
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