DXY: Dollar Index Rejected at 104.00 Threshold Riding 3-Day Gain. Jobs Data Ahead.

Dollar index turned on the offensive this week as FX traders seek to price in tomorrow’s nonfarm payrolls data.

• The US dollar index DXY ricocheted off the 104.00 mark early on Thursday and was looking to snap a three-day winning streak. The gauge, measuring the dollar’s value against a basket of six rival currencies, has been climbing an upward slope since its four-month low of 102.50 hit in late November.
• Forex speculators are turning their focus on the upcoming jobs report. On deck for Friday, the nonfarm payrolls data is expected to churn out another cool print. Analysts have pinned their hopes at 180,000 new jobs created. If true, it will be another sign that the economy is softening.
• Across currency pairs early today, the dollar pared back some gains. The EURUSD pair hit $1.0750 and rebounded to paint a green intraday candle. The GBPUSD is also looking to the upside, while the USDJPY nosedived more than 1% to trade near ¥145.00.