DXY: Payrolls data eyed – OCBC

Source Fxstreet

The US Dollar (USD) is up for the 4th consecutive session overnight as US data surprised to the upside while geopolitical tensions in the middle east remains elevated. DXY was last at 101.93, OCBC’s FX analysts Frances Cheung and Christopher Wong note.  

Daily momentum is bullish

“ISM services, prices paid and new orders were stronger though employment slipped into contractionary territory. Focus today turns to US payrolls. Consensus is looking for +150kprint for NFP (vs. +142k prior), unemployment rate and hourly earnings to hold steady at 4.2% and 3.8% y/y, respectively.”

“Markets may unwind some of its dovish bets if labor-related data comes in hotter, and this may continue to add to USD rebound momentum in the near term. But given that the USD has corrected somewhat this week, the risks for the USD can be symmetric. A downside print in NFP (i.e. cooler job market) may see recent USD gains fade.”

“Daily momentum is bullish while rise in RSI moderated. Some consolidation is likely intra-day. Resistance at 101.90 (50 DMA, 23.6% fibo retracement of 2023 high to 2024 low), 102.50 levels. Near term support at 101 (21 DMA), 100.20 (recent low).”

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
EUR: Boosted by weaker US Dollar – INGEUR/USD is back up this morning after a rollercoaster ride on Friday as US payrolls were released. This week will all be about the US election with probably very little contribution by the eurozone calendar, ING’s FX analyst Francesco Pesole notes.
Author  FXStreet
7 hours ago
EUR/USD is back up this morning after a rollercoaster ride on Friday as US payrolls were released. This week will all be about the US election with probably very little contribution by the eurozone calendar, ING’s FX analyst Francesco Pesole notes.
placeholder
Nvidia asked SK Hynix to speed up HBM4 chip production amid soaring AI demandInvestingcom -- Nvidia (NASDAQ:NVDA) CEO Jensen Huang has urged SK Hynix to expedite production of its next-generation high-bandwidth memory chips, known as HBM4, SK Group (KS:000660) Chairman Chey Tae-won said on Monday, as per a Reuters report.
Author  Investing.com
7 hours ago
Investingcom -- Nvidia (NASDAQ:NVDA) CEO Jensen Huang has urged SK Hynix to expedite production of its next-generation high-bandwidth memory chips, known as HBM4, SK Group (KS:000660) Chairman Chey Tae-won said on Monday, as per a Reuters report.
placeholder
AI Powers Microsoft's Q1 Growth, but Stock Falls on Guidance. Is It Now a No-Brainer Buy?Microsoft's (NASDAQ: MSFT) cloud computing platform Azure continued to be the growth driver for the stock when the software giant reported its fiscal Q1 earnings. However, the company's guidance for Azure, while strong, left investors wanting more.
Author  The Motley Fool
7 hours ago
Microsoft's (NASDAQ: MSFT) cloud computing platform Azure continued to be the growth driver for the stock when the software giant reported its fiscal Q1 earnings. However, the company's guidance for Azure, while strong, left investors wanting more.
placeholder
Berkshire EPS misses estimates as insurance losses, mixed results weigh on Q3Investing.com -- Berkshire Hathaway's third-quarter results fell short of analyst expectations, with EPS underperforming consensus projections.
Author  Investing.com
7 hours ago
Investing.com -- Berkshire Hathaway's third-quarter results fell short of analyst expectations, with EPS underperforming consensus projections.
placeholder
Dogecoin (DOGE) Poised for a Move: Will It Start a Fresh Increase?Dogecoin price started a fresh decline after it failed to clear the $0.180 resistance like Bitcoin and Ethereum. DOGE declined below the $0.1720 and $0.1650 support levels.
Author  NewsBTC
7 hours ago
Dogecoin price started a fresh decline after it failed to clear the $0.180 resistance like Bitcoin and Ethereum. DOGE declined below the $0.1720 and $0.1650 support levels.
Related Instrument
goTop
quote