ADP, PMI and ISM Data Looks to Alleviate Dollar Drop
Recap After The Closing Bell, Tuesday
OPEC’s biggest Oil producer, Saudi Arabia is looking at unprecedented deals to acquire Oil and Gas assets in Russia.
The Euro edged slightly higher against the Dollar on Tuesday as Investors squared out positions following the 3-week rally. Analysts are also looking forward to Friday’s Employment Report for September. Following the German Elections, Sunday’s violence-marred Independence Referendum in the Spanish region of Catalonia halted Euro-bullish trades.
Sterling declined to hit three-week low against the Dollar on Tuesday after Construction Sector Data came in low, and as investors worried about the political and economic uncertainty surrounding Britain’s Exit from the European Union.
The Canadian Dollar strengthened against the Dollar on Tuesday, boosted by comments from Bank of Canada Deputy Governor Sylvain Leduc, and as Investors squared positions following the Dollar’s three-week rally.
The Australian Dollar stayed near three-month low against the Dollar on Tuesday after the RBA held Rates steady as expected and cautioned that a higher currency would drag on the Economy and Inflation.
Today’s US Data Breakdown
In July and June, ADP Nonfarm Employment Change fell well short of actual growth. The ADP consensus for September is 150,000 vs ADP’s 237,000 in August.
PMI services slowed in the September flash. Service providers reported increases in both consumer and business spending in the flash report. Inflation readings were mixed with input costs, despite the hurricanes.
ISM Non-Manufacturing had strong readings with new orders, business activity and employment all in the upper 50s.
Potential Catalysts
High Impact
8:30 AM GMT UK ServicesPMI (Sep)
9:00 AM GMT India’s Interest Rate Decision
12:15 PM GMT US ADP Nonfarm Employment Change (Sep)
2:00 PM GMT US ISM Non-Manufacturing PMI (Sep)
2:30 PM GMT US Crude Oil Inventories
5:00 PM GMT ECB President Draghi Speaks
7:15 PM GMT Federal Reserve chairman Yellen Speaks
12:30 PM [Oct. 5] Australia Retail Sales (MoM) (Aug)
Medium Impact
7:50 AM GMT French Services PMI (Sep)
8:00 AM GMT EuroZone Services PMI (Sep)
9:00 AM GMT EuroZone Retail Sales (MoM) (Aug)
1:45 PM GMT US Market Composite PMI (Sep)
1:45 PM GMT US Services PMI (Sep)
2:00 PM GMT US ISM Non-Manufacturing Employment (Sep)
12:30 AM GMT [Oct. 5] Australia Trade Balance (Aug)
