US Dollar Index maintains position below 106.50 after recent losses, focus on US NFP

US Dollar Index holds ground ahead of US Nonfarm Payrolls.
Improved US Treasury yields could provide support for the Greenback.
US unemployment data showed a tight labor market; awaiting NFP and earnings data for confirmation.

Akhtar Faruqui FXStreet

The US Dollar Index (DXY) attempts to snap the two-day losing streak, trading slightly higher around 106.40 during the early Asian trading hours on Friday. The DXY corrected from an 11-month high due to a decline in the US Treasury yields.

However, the previous week’s initial claims for unemployment benefits in the United States (US) showed an uptrend. US Initial Jobless Claims for the week ending September 29, increased to 207K from the previous reading of 205K, beating the market expectation of 210K.

US Challenger Job Cuts have come down significantly from the previous figure of 75.151K to 47.457K in September. Traders await the upcoming US Nonfarm Payrolls and Average Hourly Earnings on Friday, seeking confirmation of a tight labor market. Upbeat numbers could trigger the US Dollar (USD) and increase volatility in the bond market.

Additionally, the US Treasury yields hold steady to remain positioned near multi-year highs, as the market exercises caution regarding the hawkish stance of the US Federal Reserve (Fed) on interest rates trajectory. The 10-year US Treasury yield holds above 4.70%, close to the highest level since 2007.

Dollar Index Spot

Overview
Today last price	106.4
Today Daily Change	0.06
Today Daily Change %	0.06
Today daily open	106.34

Trends
Daily SMA20	105.73
Daily SMA50	104.25
Daily SMA100	103.42
Daily SMA200	103.16

Levels
Previous Daily High	106.85
Previous Daily Low	106.32
Previous Weekly High	106.84
Previous Weekly Low	105.52
Previous Monthly High	106.84
Previous Monthly Low	103.27
Daily Fibonacci 38.2%	106.52
Daily Fibonacci 61.8%	106.65
Daily Pivot Point S1	106.16
Daily Pivot Point S2	105.97
Daily Pivot Point S3	105.62
Daily Pivot Point R1	106.69
Daily Pivot Point R2	107.04
Daily Pivot Point R3	107.22

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

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