Could today’s employment data spell more negative news for the US dollar?

It is looking more likely that the release of Non-Farm Employment Change figures today will show a bleaker figure than originally expected, thanks to both other employment figures released this week coming out slightly worse than expected. Wednesday saw the release of the ADP Non-Farm Employment Change at its lowest level for over a year, whereas yesterday’s Weekly Unemployment Change figure reduced expectations significantly that a positive figure will be seen today. Overall the week has been less than a perfect one for data – not only with the lower than expected Employment figures, but also the showing of the ISM Manufacturing Purchase Managers’ Indices which fell short of its expected figure and to a two month low.

Investors will be keeping a keen eye on today’s data in the hope that the Non-Farm Employment Change will in fact post another stable figure – contrary to these earlier releases.

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