US Dollar Index to climb back to 113-114 after NFP report – ING

The dollar rebound has gained further steam into today’s Nonfarm Payrolls risk event. According to economists at ING, NF P may add fuel to the dollar recovery.

Staying bid on payrolls

“We expect the unemployment rate to stay at 3.7% with payrolls slowing but staying above 200K. We think the dollar rally in the past two sessions was simply a reversal of the previous correction, and not necessarily linked to rising expectations around a very strong jobs report today.”

“We see more room for USD appreciation today after the payrolls release as markets drift further away from Fed-pivot speculation.”

“DXY could find its way back into the 113.00-114.00 region.”

See NFP Preview: Forecasts from nine major banks, employment trend slows down