The US dollar index was seen trading flat last week in Friday’s trading sessions. The news from August’s NFP report caused the US dollar index to slip in the earlier half of the sessions.
USD traders were also on the edge of their seats. The US Dollar Index had an upsetting drop on Thursday’s trading. The US dollar index barely moved on the latter half of Friday’s session. Recording a 0.02%- or 0.01-point upward movement.
But despite the performance of the US dollar index, the US dollar index futures for September 19 fell last week. The US dollar index futures fell by 0.10% or 0.100 points. In the second half of Friday’s sessions, recording levels from 98.252 to 98.484.
Before the non-farm payroll was released, the greenback struggled to hold on to its gains against major currencies in trading sessions.
Analysts and forex traders were still holding on to their seats before the NFP was released on the latter half of the sessions. The highly anticipated NFP plays a crucial role in the forex market as it may give signs for the next step of the US Federal Reserve.
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Pre-NFP Run
The greenback fell hard against other major currencies before the release of the NFP report on Friday. The EUR USD trading pair was seen up by 0.15%, or 0.0017 points, extending its gains from $1.1020 to $1.1054 in Friday’s trading.
Moments before the NFP’s release, the USD CAD trading pair contracted 0.33%, or 0.0043 points, in trading sessions. The pair hit levels between CA$1.3179 and CA$1.3236.
Other pairs that saw gains against the greenback last week are the Australian dollar and New Zealand dollar. The AUD USD rose 0.48% or 0.0033 points, and the NZD USD rallied by 1.00%, or 0.0064 points, in Friday’s trading.
But aside from those losses, the greenback had an upper hand against the Japanese yen in Friday’s trading. The USD JPY pair declined by 0.21%, or 0.23 points, extending to levels between ¥106.62 and ¥107.11 in sessions.
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