Dollar bulls were hesitant to take the driver’s seat on Friday, despite US Non-Farm payrolls exceeding market expectations by rising 196k in March.

With payrolls rebounding in March and unemployment holding steady at 3.8% - a near 49 year low, fears over the US economy are likely to ease. However, markets were clearly more concerned with wage growth which disappointed by slowing 0.1% mom, below expectations of 0.3%. Sluggish wage growth suggests that inflation is likely to remain muted which will inevitably fuel speculation over the Federal Reserve cutting interest rates in the distant future.

Taking a look at the technical picture, the Dollar Index dipped following the US jobs report. With the data seen as a mixed bag, the DXY is likely to swing back and forth into the weekend. If bulls do end up making a late apperance, the Dollar Index has the potential to challenge 97.50.

Disclaimer: Il contenuto del presente articolo comprende opinioni personali e non deve essere in alcun modo interpretato come consulenza personale e/o finanziaria e/o come offerta e/o invito per alcuna transazione con strumenti finanziari e/o garanzia e/o previsione sulle performance future. ForexTime (FXTM), i suoi affiliati, agenti, direttori, funzionari o dipendenti non garantiscono la precisione, validità, tempestività o completezza delle informazioni o dei dati messi a disposizione, né si assumono alcuna responsabilità in caso di perdita derivante da qualsiasi investimento a essi connesso.