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US Dollar nose-dives to 95.20 on Payrolls

FXStreet (Edinburgh) - The greenback, in terms of the US Dollar Index, has collapse to the 95.20 area following the miserable prints from US Payrolls.

US Dollar in multi-day lows

The index is posting fresh multi-day lows after US Non-farm Payrolls have missed expectations during September, rising to 142K vs. 203K initially forecasted and 136K from the previous month (revised from 173K). Further data also showed Average Hourly Earnings and Average Weekly Hours coming in below expectations, while the unemployment rate remained at 5.1%.

The dollar will remain in the centre of the debate in the very near term however, as market participants will start to factor in today’s data with speculations on a Fed’s lift-off by year-end.

Next on tap will be Factory Orders followed by the speech by Fed’s Vice Chairman Stanley Fischer.

US Dollar levels to consider

At the moment the index is retreating 0.91% at 95.47 and a break below 94.06 (low Sep.18) would aim for 93.72 (low Aug.26) and finally 93.25 (low Aug.25). On the flip side, the immediate up barrier lines up at 96.49 (high Oct.1) followed by 96.70 (high Sep.25) and then 97.07 (high Aug.19).

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