DXY stays firm after strong jobs data; Set for weekly gain of near 1%

The dollar index continues to stay firm above 100 mark in Friday after a stronger than expected US jobs report reduces hopes of a December rate cut. The closely watched U.S. Labor Department report, delayed by the federal government shutdown, showed that September nonfarm payrolls increased by 119,000, more than double the estimated increase of 50,000. The US unemployment rate rose to 4.4% with the number of unemployed people at 7.6 million as of the month ended September 2025, compared to the 4.1% jobless rate with 6.9 million people in the same period a year ago. Investors will take more cues from the preliminary reading of the US S&P Global Purchasing Managers Index (PMI) later on Friday. Meanwhile, Cleveland Fed President Beth Hammack on Thursday reaffirmed her stance against further rate cuts, citing concern over current price levels. Meanwhile. Philadelphia Fed President Anna Paulson stated on Friday that she is approaching Decembers policy meeting cautiously, adding that the central bank must carefully balance slowing labour momentum against lingering inflation risks. The dollar index that measures the greenback against a basket of currencies is currently trading at 100.03, down marginally on the day and set for a weekly gain of nearly 1%.

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