Select Language

US Dollar Index (DXY) nudges up to 99.00 with markets bracing for the US NFP

Breaking news

US Dollar Index (DXY) nudges up to 99.00 with markets bracing for the US NFP

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.06.06 18:13
US Dollar Index (DXY) nudges up to 99.00 with markets bracing for the US NFP

update 2025.06.06 18:13

  • The Dollar trims previous losses ahead of the NFP reading.
  • Investors are paring USD shorts after a string of negative US releases.
  • A downbeat employment report would boost hopes of Fed easing.

The US Dollar Index (DXY) is showing a moderately positive tone on Friday, with investors trimming US Dollar lows ahead of May's US Nonfarm Payrolls release. The DXY is nearing the 99.00 level, after hitting six-week lows, at 98.35 on Thursday, on track for a flat weekly performance.

Market forecasts anticipate a 130,000 increment on private payrolls in May, following a 177,000 rise in April, but the weak macroeconomic data seen earlier this week casts doubts about these figures.

The unemployment rate is expected to have remained steady at a 4.2% rate, but, according to some market sources, there is a chance of an increase to 4.3%, which would put additional pressure on the US Dollar.

Weak US Data has weighed on the USD

The USDollar suffered this week on the back of a string of downbeat economic releases, ISM PMI readings revealed contractions in both manufacturing and services sectors, suggesting a poor contribution to the Q2 GDP.

Beyond that, ADP figures revealed a much lower-than-expected increase in employment in May, which raised speculation that a 130K NFP forecast might be too optimistic.

Against this background, a weak employment report today might urge the Fed to end its wait-and-see stance and lower interest rates in the coming months. Such a scenario would push the Dollar lower against its main peers.

US Dollar PRICE Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.

USD EUR GBP JPY CAD AUD NZD CHF
USD 0.29% 0.28% 0.45% 0.07% 0.34% 0.19% 0.28%
EUR -0.29% -0.00% 0.13% -0.22% -0.01% -0.09% -0.01%
GBP -0.28% 0.00% 0.12% -0.21% 0.00% -0.09% -0.01%
JPY -0.45% -0.13% -0.12% -0.33% 0.01% -0.14% -0.23%
CAD -0.07% 0.22% 0.21% 0.33% 0.27% 0.13% 0.21%
AUD -0.34% 0.00% -0.00% -0.01% -0.27% -0.08% 0.00%
NZD -0.19% 0.09% 0.09% 0.14% -0.13% 0.08% 0.08%
CHF -0.28% 0.00% 0.00% 0.23% -0.21% -0.01% -0.08%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).


 


Date

Created

 : 2025.06.06

Update

Last updated

 : 2025.06.06

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

Canadian Dollar gives back gains despite upbeat jobs data

The Canadian Dollar (CAD) saw firm gains in employment figures on Friday, with an overall net increase in Canadian employment thumping median market forecasts for a contraction.
New
update2025.06.07 06:04

Mexican Peso climbs to eight-month highs against the US Dollar despite upbeat US jobs data

The Mexican Peso (MXN) is experiencing its third consecutive day of gains against the US Dollar (USD) on Friday, pushing the USD/MXN exchange rate to its lowest level in eight months.
New
update2025.06.07 04:39

USD/JPY Price Forecast: Soars to weekly high, near 145.00 on hot US jobs report

USD/JPY extended its uptrend for two consecutive days, with the major currency pair reaching a new weekly high of 145.09, driven by solid US economic data on Friday.
New
update2025.06.07 04:37

EUR/USD declines on hot US NFP report, dents ECB-driven Euro rally

EUR/USD trip down extends its losses on Friday after hitting a six-week high near 1.1500 as Nonfarm Payroll figures in the United States (US) came in stronger than expected despite cooling off.
New
update2025.06.07 03:56

Dow Jones Industrial Average tests fresh highs on NFP beat despite downside revisions

The Dow Jones Industrial Average (DJIA) briefly tested fresh 13-week peaks on Friday, with equities taking a step higher after Nonfarm Payrolls (NFP) jobs data came in stronger than expected.
New
update2025.06.07 03:03

Silver Price Forecast: XAG/USD hits a 13-year high on increased demand for the industrial metal

Silver (XAG/USD) is experiencing another day of positive gains, which has pushed prices to $36.00, its highest level since February 2012, providing a firm barrier of resistance. 
New
update2025.06.07 02:45

Gold price falls on strong US Nonfarm Payrolls yet is poised for weekly advance

Gold price extended its losses for the second consecutive day on Friday but is poised to finish the week with gains of over 1.30% after the latest Nonfarm Payrolls report in the United States (US) was solid, pressuring traders to trim their bets that the Federal Reserve (Fed) will ease monetary poli
New
update2025.06.07 02:15

Fed's Harker: Still possible the Fed can cut rates later this year

Federal Reserve (Fed) Bank of Philadelphia President Patrick Harker is embarking on a farewell tour.
New
update2025.06.07 01:57

AUD/USD falls as US Dollar bulls return following NFP data

The Australian Dollar (AUD) is weakening against the US Dollar (USD) following Friday's Nonfarm Payrolls (NFP) pushed back expectations of a near-term interest rate cut from the Federal Reserve (Fed).
New
update2025.06.07 00:52

GBP/USD slips as strong US jobs data cools Fed rate cut bets

GBP/USD tumbled during the North American session, down over 0.30% after the latest jobs report in the United States (US) maintained the status quo, with the economy remaining strong. The pair traded at 1.3526 after hitting a daily high of 1.3586.
New
update2025.06.07 00:21

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel