Higher Oil Prices And Tighter Labor Market Conditions Make A Case For A Stronger Dollar

Non-Farm Payrolls disappointed on Friday but the US Dollar remains unfazed as investors' consensus is that these figures will not affect Fed's tightening path. The US labor market report printed mixed with the number of jobs added to the economy and the Average Weekly Earnings component missing their marks but the Unemployment Rate ticking lower helped balance the report. Nevertheless, it's impressive to see that since Friday's data we have not seen any profit-taking action from Dollar bulls which hints on continued optimism.