US Dollar strengthens following positive Non-Farm Payrolls data.

• The US Dollar returns to strength following robust NFP data,
  with market attention now turning to upcoming remarks from Fed Chair Jerome Powell.
• The US Dollar Index has reclaimed the 102.00 level and is aiming to secure a close above before heading into the weekend.

The US Dollar Index (DXY), which measures the greenback’s performance against a basket of six major currencies, is gaining momentum following stronger-than-expected Nonfarm Payrolls data. Meanwhile, tensions are escalating as China retaliates against US tariffs by announcing a 34% levy on all US imports, effective April 10th—just one day after the US imposes its own tariffs.

Attention now turns to Federal Reserve Chair Jerome Powell’s upcoming speech, which could influence the next move for the dollar.

On the economic front, the Nonfarm Payrolls (NFP) report surprised to the upside, with 228,000 jobs added—well above the consensus estimate of 135,000 and even exceeding the most optimistic forecast of 200,000. The market’s focus now shifts to whether Powell will reinforce or challenge the current bullish momentum in the DXY.

The US 10-year Treasury yields are hovering around 3.94%, marking a fresh five-month low. The next key support level lies near 3.69%, last seen in early October 2024.