US Dollar Index Challenges The 92.00 Area on NFP

The selling pressure continues in DXY and fell to the 92.00 area on Friday. It is testing sub-92.00 for a brief period on Friday after the non-farm payrolls data came in a surprisingly bearish direction in August. The US economy added 235,000 jobs last month, compared to the 750,000 jobs market had expected. On the other hand, the unemployment rate declined to 5.2% and average hourly earnings rose 0.6% on a monthly basis and 4.3% on an annual basis, all records better than the previous estimates. The participation rate remained unchanged at 61.7%.

At the time of writing, the dollar index is losing 0.20% at 92.02. Next support at 91.94, then 91.78, then 91.62. On the other hand, a break above 92.51 opens the door to 93.18 then 93.72.