The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, rallied after some strong Nonfarm Payrolls numbers while markets look ahead for Federal Reserve (Fed) Chair Jerome Powell's speech up next.
China meanwhile lashed out at the US tariffs by imposing a 34% tariff on all US goods from April 10th, a day after the US tariffs will be imposed. Question will be if other countries join China in retaliation while the 'deal-making' US President Donald Trump was referring to on Thursday, does not seem to be taking place right now.
On the economic calendar front, the Nonfarm Payrolls release (NFP) came in upbeat at 228,000, far from the consensus view of 135,000. The most positive forecast was for 200,000, which makes the actual number an outside surprise. Now focus shifts to the Federal Reserve to see if Fed Chairman Powell can alter or support the current stance in the DXY.
Source: FXStreet
