How will today’s data releases affect the US dollar?

Further weakness was seen for the US dollar on Wednesday, thanks in the part to a strong day for sterling. The data releases showed mixed results, with the ADP Non-Farm Employment Change figures (widely used as an indication of the main release on Friday) showing slightly positive signs and the ISM Non-Manufacturing Purchase Managers’ Indices (PMI) falling slightly on the previous month – although still showing growth in in the sector.

Today is set to be dominated once again by sterling, thanks to the Bank of England’s (BoE) interest rate news, but we can also look forward to the release of the US’s weekly Unemployment claims, expected to post a stable figure, as well as Factory Orders, set to contract further.

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