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USD Index Back Above 1.09 Ahead Of US ADP, MNI Chicago PMI

LATAM
  • The greenback trades firmer ahead of the NY crossover, with the USD Index rising back above the 109 handle and trading well within range of the Tuesday highs. Monday's 109.478 marks the recovery and cycle high for the index, and price action indicates a strong signal that the USD upside bias continues to underpin currency markets.
  • Focus turns to the MNI Chicago PMI at 1445BST/0945ET. Markets expect the figure to hold at 52.1, in line with the July read. Speeches from Fed's Mester and Bostic are also awaited.
  • Additionally, after a brief hiatus, the ADP release their private sector jobs report with a new methodology, which markets could closely comb through for clues ahead of Friday's NFP release.

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