The US dollar was not able to establish a definite trend today as macroeconomic data was mixed and did not provide a clear picture of the US economic health. The greenback was down against the Japanese yen and a bit lower versus the euro, but rose a little against the Great Britain pound.
The employment report from Automatic Data Processing demonstrated growth by 175,000 in January. It was noticeably below the expected value of 197,000 and the December growth by 227,000. At the same time, the services Purchasing Managers’ Index of Institute for Supply Management grew from 53.0 percent to 54.0 percent last month, exceeding the forecast of 53.6 percent.
Another important report this week will be nonfarm payrolls. The latest data was abysmal, showing a meager increase by 74,000 and analysts hope that the upcoming release will show much better figure of 184,000, but today’s report definitely hurt such hopes.
EUR/USD rose a little from 1.3518 to 1.3535 as of 20:57 GMT today. GBP/USD ticked down from 1.6324 to 1.6309, reaching the low of 1.6251 intraday. USD/JPY declined from 101.65 to 100.80 before trading at 101.37.
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