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Dollar Index Rebounds After Strong US Jobs Report
The US Dollar Index stabilised near 96.78 following a rebound driven by stronger-than-expected January labour market data. Nonfarm payrolls rose by 130,000, marking the largest monthly gain in over a year, while the unemployment rate dipped to 4.3%, reinforcing signs of resilience in the US economy.
The data prompted traders to scale back expectations for near-term Federal Reserve easing. Markets now anticipate the first rate cut in July rather than June, with total reductions of around 50 basis points priced in for the year. Rising Treasury yields further supported the dollar, as investors reassessed the urgency for policy accommodation.
Technically, the index is attempting to form a base above the 95.3–96.0 support zone. While short-term consolidation is emerging, the broader structure remains cautious unless price breaks decisively above key moving averages near 97.30–97.50.
Read more on how payrolls, Fed expectations and upcoming CPI data could shape the Dollar Index’s next move in this article.
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