020 7898 0500Yesterday the US dollar traded relatively flat in the European morning, before strengthening sharply later in the day thanks to strong Automatic Data Processing (ADP) Employment Change figures – 65,000 better than expected. The markets quickly corrected themselves, and traded flat throughout the afternoon, despite the release of negative Trade Balance figures. The American currency was however able to push back against its main competitors thanks to the release of positive data in the Institute for Supply Management (ISM) Non-manufacturing index.
Today we will see the release of November’s Unemployment Rate in the Eurozone, as well as the European Central Bank (ECB) Monetary Policy Meeting Accounts and US Jobless Claims ahead of Friday’s US Non-Farm Payroll and US Unemployment Rate – all of which may have an effect on the performance of the US dollar.
