- USDOLLAR Remains Capped by Trendline Support Post NFP;
- EUR/USD to Retain Range Ahead of ECB on Failed Close Above 1.3870
- AUD/USD Holds 0.9200 Handle Ahead of RBA Interest Rate Decision
The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is giving back the bullish reaction to the better-than-expected Non-Farm Payrolls (NFP) print, and the lack of momentum to break above trendline resistance continues to foster a bearish outlook for the greenback as price and the Relative Strength Index (RSI) retain the downward trend from earlier this month.
Daily Change (%)
DJ-FXCM Dollar Index
Despite the marked decline in the jobless late, subdued wage growth paired with the ongoing deterioration in the Labor Force Participation Rate continues to limit the scope of seeing a material shift in the Fed's policy outlook, and the dollar may continue to carve a series of lower highs and lower lows in May as the central bank continues to endorse its highly accommodative policy stance.
With that said, the USDOLLAR may have marked the high for May as the opening monthly range takes shape, and the greenback remains at risk of giving back the advance from back in October (10,354) unless we see a material shift in the Fed's forward-guidance for monetary policy.
Change in Non-Farm Payrolls (APR)
Unemployment Rate (APR)
Labor Force Participation Rate (APR)
Change in Private Payrolls (APR)
Change in Manufacturing Payrolls (APR)
Change in Household Employment (APR)
Underemployment Rate (APR)
Two-Month Payroll Net Revision (APR)
Average Hourly Earnings (MoM) (APR)
Average Hourly Earnings (YoY) (APR)
Average Weekly Hours (APR)
Factory Orders (MAR)