The US dollar is strengthening against most of its G10 currency rivals on Thursday, allowing the greenback to extend its winning streak to three sessions. The dollar is finding support on a better-than-expected jobs report, as well as the broader financial market bleeding red ink toward the end of the trading week. With the currency showing signs of life, are we in for a dollar rally?

The number of Americans filing for first-time unemployment benefits came in at 881,000 for the week ending August 29, which is the lowest level during the coronavirus pandemic. The market had penciled in a reading of 950,000. Continuing jobless claims reached 13.254 million, while the four-week average slipped below one million to 991,750.

According to the Bureau of Economic Analysis (BEA), the US trade deficit swelled to $63.6 billion in July, with imports advancing 10.9% to $231.7 billion and exports climbing 8.1% to $168.1 billion. Despite the improvement in trade, the numbers remain below their pre-pandemic levels.

In other data, the Institute for Supply Management (ISM) released its non-manufacturing numbers on Thursday: business activity decreased to 62.4, prices increased to 64.2, new orders plunged to 56.8, and employment continued in contraction territory.

The IHS Markit composite purchasing managers’ index (PMI) clocked in at 54.6 in August, up from 50.3 in July. The services PMI hit 55 last month, up from 50 in the previous month.

Investors are seeking refuge in the US dollar as the leading stock indexes crash. The Dow Jones Industrial Average plummeted 2.57%, the S&P 500 tumbled 3.57%, and the Nasdaq Composite Index cratered 5%. The metal commodities also failed to take advantage of the madness, with gold shedding 0.5% and silver sliding nearly 2%.

The US Dollar Index, which gauges the greenback against a basket of currencies, edged up 0.02% to 92.87, from an opening of 92.85. The index has been gaining for the last three sessions, somewhat reversing the 13% drop since its peak of 103.00 earlier this year. Year-to-date, the DXY is down 3.6%.

The USD/CAD currency pair advanced 0.69% to 1.3137, from an opening of 1.3046, at 17:11 GMT on Thursday. The EUR/USD fell 0.17% to 1.1837, from an opening of 1.1852.