DXY loses momentum and returns to sub-90.00 levels. US Nonfarm Payrolls came in at -140K in December. The US jobless rate stayed unchanged at 6.7%. The greenback, when measured by the US Dollar Index (DXY), now trades on the defensive and returns to the 89.70/65 band. US Dollar Index gives away gains post-NFP The index accelerated its correction lower after US Nonfarm Payrolls showed the economy lost 140K jobs during December, sharply contrasting with the 71K job gains expected. On the brighter side, the Unemployment Rate stayed put at 6.7% vs. investors’ anticipation of a move higher to 6.8%. In the meantime, USD-sellers stepped in on the back of now rising speculation that the Federal Reserve might have to pump further money to help the economy amidst the deterioration of the pandemic front. Additional US data due later include the monthly Wholesale Inventories and Consumer Credit Change for the month of November and the speech by FOMC’s R.Clarida (permanent voter, dovish). What to look for around USD The index regains some buying interest and manages to leave behind recent lows in the 89.20 region, mainly on the back of the recovery of US 10 yields while the risk complex seems to be taking a breather. However, the outlook for the greenback remains immersed into the bearish side for the time being amidst massive monetary/fiscal stimulus in the US economy, the “lower for longer” stance from the Federal Reserve and prospects of a strong recovery in the global economy. US Dollar Index relevant levels At the moment, the index is losing 0.15 at 89.68 and faces the next support at 89.20 (2021 low Jan.6) followed by 88.94 (monthly low March 2018) and the 88.25 (monthly low February 2018). On the other hand, a breakout of 91.01 (weekly high Dec.21) would aim for 91.23 (weekly high Dec.7) and finally 91.92 (23.6% Fibo of the 2017-2018 drop). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 Index notches new record high above 3,800 despite disappointing NFP report FX Street 1 year DXY loses momentum and returns to sub-90.00 levels. US Nonfarm Payrolls came in at -140K in December. The US jobless rate stayed unchanged at 6.7%. The greenback, when measured by the US Dollar Index (DXY), now trades on the defensive and returns to the 89.70/65 band. US Dollar Index gives away gains post-NFP The index accelerated its correction lower after US Nonfarm Payrolls showed the economy lost 140K jobs during December, sharply contrasting with the 71K job gains expected. On the brighter side, the Unemployment Rate stayed put at 6.7% vs. investors’ anticipation of a move higher to 6.8%. In… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.