US Dollar clings to gains above 90.00 ahead of Payrolls

• DXY manages to keep daily gains beyond the key 90.00 handle.
• USD muted after Trump signed tariffs on steel and aluminium.
• Later in the day, US Payrolls seen at 200K in February.

The greenback, in terms of the US Dollar Index (DXY), is holding on to its daily gains vs. the rest of its peers above the psychological 90.00 limestone at the end of the week.

US Dollar now looks to US jobs

The index is advancing for the third session in a row on Friday, managing at the same time to keep business above 90.00 the figure and extending the bounce off the decent support area in the mid-89.00s seen earlier in the week.

The greenback posted no reaction after President Trump signed late on Thursday the implementation of tariffs on US imports of steel (25%) and aluminum (10%), gathering traction, instead, in response to the cautious/dovish message from the ECB at its meeting yesterday.

Later in the NA session, the buck will stay in centre stage in light of the publication of February’s Non-farm Payrolls (200K expected), with special attention to the performance of Average Hourly Earnings following January’s strong advance (2.9% YoY).

Additionally, Boston Fed E.Rosengren (2019 voter, dovish) and Chicago Fed C.Evans (2019 voter, centrist) will also speak later in the day.

US Dollar relevant levels

As of writing the index is gaining 0.04% at 90.17 facing the next hurdle at 90.57 (high Feb.8) seconded by 90.93 (high Mar.1) and finally 91.00 (high Jan.18). On the downside, a break below 89.43 (low Mar.7) would open the door to 88.44 (low Jan.26) and finally 88.25 (2018 low Feb.16).