Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Dollar Mixed Ahead Of ADP And ISM Services

ByActionForex
Published 06/05/2013, 05:55 AM
Updated 03/09/2019, 08:30 AM

The dollar is mixed as markets anticipate the release of employment and services data due today. Expectation on the timing of Fed's policy exit will continue to be adjusted, based on incoming economic data. Dallas Fed Fisher said that there was a "practical limit" to the size of Fed's balance sheet and there wouldn't be "QE infinity". He also noted that housing market is "in a good state", construction has started again and house prices are "appreciating significantly". And it would be "prudent to dial back the rate of purchases" in MBS. Kansas City Fed George said she supported slowing the pace of asset purchase as the "appropriate next step for monetary policy". She noted that "adjustments today can take a measured pace as the economy's progress unfolds."

The ADP employment report is expected to show 170k growth in private sector jobs in May. The ADP number was notably weaker in March and April, with 131k growth and 119k growth respectively. That compared to 177k in January and 198k in February. The ISM manufacturing index is expected to improve slightly to 53.5 in May, ending a two month decline. Other data to be watched from the U.S. include factory orders, non-farm productivity revision and the Fed's Beige Book economic report.

Elsewhere, Australian data showed 0.6% qoq growth in GDP in Q1, unchanged fro Q4 and missed expectation of 0.8% qoq. The data brought yoy growth to a below trend 2.5%, the worst since 2011. The U.K. BRC short price index dropped -0.1% in May. Services PMI will be a focus in the European session, with Eurozone PMI services revision and U.K. PMI services featured. The eurozone will also release Q1 GDP revision and retail sales.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.