US Dollar turns negative near 96.60 post-NFP

The US Dollar Index, which gauges the buck vs. its main rivals, has abandoned session highs above 97.00 and has slipped back the 96.60 area.

US Dollar now looks to Fedspeak

The greenback has quickly surrendered daily gains after US Non-farm Payrolls showed the economy has added 156K jobs during last month, coming in short of forecasts for a 172K gain and below August’s 167K (revised from 151K).

The unemployment rate has also missed expectations, ticking higher to 5.0% vs. 4.9% previously estimated. Average Hourly Earnings rose at a monthly 0.2%, matching consensus.

Next on tap, speeches by FOMC’s VP S.Fischer, Cleveland Fed L.Mester (voter, centrist/hawkish) and Kansas City E.George (voter, hawkish) are due, keeping the attention on USD.

US Dollar relevant levels

The index is losing 0.09% at 96.68 facing the immediate support at 95.92 (200-day sma) ahead of 95.04 (support line off 2016 low) and finally 94.44 (low Sep.8). On the flip side, a break above 97.62 (high Jul.25) would open the door to 98.59 (high Mar.3) and then 99.95 (high Jan.21).