The U.S. dollar index settled at 91.74 on Friday, after price action was seen consolidating above the 91.50 handle over the past four daily sessions. On Friday, the December nonfarm payrolls data was released. Although not a blockbuster report, the payrolls showed that wages edged higher to 2.5% on the year, the unemployment rate held steady for a third consecutive month at 4.1%. The pace of jobs created in December was however smaller than expected.
The Greenback, which has been in a strong decline over the past few months managed to stabilize. However, a lot remains up in the air regarding how the USD reacts from here on.
Economic data today is relatively quiet, meaning a slow start to the week. Data from the Eurozone will see the release of the German factory orders which are expected to rise at a slower pace. Bank of Canada will be releasing its business outlook survey. The report comes a week ahead of the BoC meeting next week. From the U.S., FOMC members Bostic and Williams will be speaking later in the day.
