Free Trial

Two-Way Flows Surrounding Labour Market & Wage Data, Fresh Lows For BBDXY At Typing

USD

The wider greenback (in BBDXY terms) moved away from session lows on the much firmer than expected headline ADP employment reading, although around half the gains were unwound in the immediate aftermath, likely owing to the accompanying rhetoric re: slowing wage growth and a modest downward revision to the prior month’s headline reading.

  • A notable downward revision to the final Q1 unit labour cost data then supplied fresh headwinds for the USD, allowing the BBDXY to register incremental session lows as of typing.
  • Weekly jobless claims data provided slightly below expected readings and were little changed vs. the prior week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.