Dollar Mixed After ADP Private Payrolls Data
02 Ottobre 2019 - 11:14AM
RTTF2
The U.S. dollar showed mixed trading against its major
counterparts in the European session on Wednesday, after the
release of ADP data that showed U.S. private sector job growth
improved less than forecasts in September.
Data from payroll processor ADP showed that private sector
employment rose slightly less than expected in the month of
September.
ADP said private sector employment climbed by 135,000 jobs in
September compared to economist estimates for an increase of about
140,000 jobs.
The report also showed a significant downward revision to the
increase in private sector jobs in August, which was slashed to
157,000 jobs from the originally reported 195,000 jobs.
The Labor Department is scheduled to release its more closely
watched monthly jobs report on Friday.
Employment is expected to increase by 140,000 jobs in September
after rising by 130,000 jobs in August, while the unemployment rate
is expected to hold at 3.7 percent.
The currency was modestly higher against its major counterparts
in the Asian session, excepting the euro.
The greenback advanced to more than a 4-month high of 1.0027
against the franc from an early 2-day low of 0.9921. The greenback
is seen finding resistance around the 1.02 level.
Data from the Federal Statistical Office showed that Swiss
consumer price inflation eased to the lowest in 33 months in
September.
Inflation eased to 0.1 percent in September from 0.3 percent in
August. Economists had forecast the rate to remain unchanged at 0.3
percent.
The greenback declined to a 6-day low of 107.45 against the yen
from Tuesday's closing value of 107.74. The next possible support
for the greenback is seen around the 106.00 level.
Data from the Cabinet Office showed that Japan's consumer
confidence fell to the lowest level in more than eight years in
September.
The consumer confidence index fell to a seasonally adjusted 35.6
in September from 37.1 in August.
The greenback edged down to 1.0935 against the euro, off an
early high of 1.0904. The currency is likely to locate support
around the 1.12 level.
Reversing from an early high of 1.2227 against the pound, the
greenback weakened to 1.2298. On the downside, 1.27 is possibly
seen as the next support level for the greenback.
Survey data from IHS Markit showed that the UK construction
sector contracted further in September.
The IHS Markit/Chartered Institute of Procurement & Supply
construction Purchasing Managers' Index fell to 43.3 in September
from 45.0 in August. The score was forecast to remain unchanged at
45.0.
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