US Dollar still below 102.00 on ISM

The US Dollar Index – which tracks the buck vs. its main rivals – remains in the negative territory today, trading close to daily lows in the 101.90 region.

US Dollar unable to gather traction

The selling pressure continues to punish the index today despite Markit’s Services PMI and the ISM Non-manufacturing have come in above expectations for the month of December. On the not-so bright side, the ADP report has missed estimates earlier today, showing the US private sector added 153K jobs in the last month of 2016 vs. 170K expected.

USD remains unable to pick up pace as yesterday’s FOMC minutes still weigh on sentiment after the Committee noted the significant uncertainty that lingers over the potential policies to be implemented under the Trump administration.

Looking ahead, Friday’s Non-farm Payrolls are seen at 175K for the month of December and the unemployment rate a tad higher at 4.7%.

US Dollar relevant levels

The index is losing 0.79% at 101.89 and a breakdown of 101.71 (low Jan.5) would open the door to 100.75 (low Dec.14) and then 100.59 (55-day sma). On the upside, the initial hurdle lines up at 103.81 (2017 high Jan.4) followed by 107.38 (monthly high Dec.2002) and finally 109.25 (monthly high Aug.2002).