US Dollar Index Gains as Traders Await Jobs Report

US dollar index is higher today as traders wait for the release of the nonfarm payrolls report from April. Dollar is mixed against individual currencies.

The US dollar is mixed against individual currencies right now, gaining against the euro and the yen, but down against the pound. Greenback has also slipped against the loonie on the higher price of oil today. Even so, the dollar index is trading higher, thanks to the high weighting of the euro in the basket.
Forex traders are waiting for the April non-farm payrolls report, which should be released shortly. While the economy is expected to have added jobs, there is speculation that many will be disappointed if the 200,000 threshold isn’t crossed. As a result, there is a restrained approach to dollar gains today, as well as to higher stock market futures.
The situation could change later, so pay attention, since this jobs report could also provide clues for what is next with the Federal Reserve.
At 12:26 GMT the US dollar index is up to 94.8110 from the open at 94.6270. EUR/USD is down to 1.1215 from the open at 1.1266. GBP/USD is up to 1.5415 from the open at 1.5246. USD/JPY is up to 120.1930 from the open at 119.7380. USD/CAD is down to 1.2108 from the open at 1.2129.

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