The US Dollar Index (DXY), measuring the greenback against six major currencies, edged lower to around 100.80 in the Asian session on Friday. Pressure on the dollar mounted as traders reassessed hawkish Federal Reserve interest‑rate bets after the June U.S. Nonfarm Payrolls report came out Thursday.
US Dollar Price Today
The table below illustrates how the US dollar performed today versus other major currencies, with the greenback showing its weakest move against the New Zealand dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.06%-0.10%0.06%-0.07%-0.16%-0.21%-0.08%EUR0.06%-0.04%0.11%-0 .02%-0.15%-0.15%-0.02%GBP0.10%0.04%0.13%0.00%-0.11%-0.09%0.02%JPY-0.06%-0.11%-0.13%-0.11% -0.25%-0.28%-0.13%CAD0.07%0.02%-0.00%0.11%-0.15%-0.15%-0.00%AUD0.16%0.15%0.11%0.25%0.15%- 0.00%0.13%NZD0.21%0.15%0.09%0.28%0.15%0.00%0.13%CHF0.08%0.02%-0.02%0.13%0.00%-0.13%-0.13%
This heat map displays percentage shifts among major currencies, using the left column as the base and the top row as the quote. For instance, selecting the US dollar on the left and moving to the Japanese yen on the top shows the USD/JPY change.
The CME FedWatch tool indicates that the probability of at least one Fed rate hike in September has fallen to 53.2%, down from roughly 64% on Wednesday.
Traders have scaled back their hawkish Fed outlook after the June nonfarm payrolls figure came in far below forecasts. The economy added only 57,000 jobs, well short of the expected 110,000, and the May total was revised down to 129,000 from 172,000. Despite the weak job growth, the unemployment rate slipped to 4.2%, below both the estimate and the prior 4.3% reading.
Average hourly earnings, a key wage‑growth gauge, increased 3.5% year‑on‑year, in line with forecasts and up from the prior 3.4%.
Looking ahead, the next key driver for the dollar will be the June ISM Services PMI, set for release on Monday. Investors will watch this indicator closely because the services sector makes up about two‑thirds of U.S. economic activity.
Economic Indicator
Nonfarm Payrolls
The nonfarm payrolls report shows how many jobs were added in the U.S. each month across all non‑farm sectors, compiled by the Bureau of Labor Statistics. Because the figure can swing sharply and is often revised, it frequently fuels volatility in foreign‑exchange markets. A strong reading is generally viewed as dollar‑bullish, while a weak reading leans bearish, though prior revisions and the unemployment rate carry equal weight. Ultimately, markets react to the full picture presented in the BLS release.
Read more.
