U.S. data - Ester Holdings
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U.S. data

  • ADP nonfarm employment change (November), fact 179K, forecast 196K.
  • Initial jobless claims, fact 231K, forecast 226K.
  • Nonfarm productivity  (q/q) (Q3),  fact 2.3%,  forecast of2.3%.
  • Trade balance (Oct), fact -55.50B, forecast -55.20B.
  • Labor costs (q/q) (Q3), fact 0.9%, forecast 1.1%.

The published block of statistics on the United States was very negative. Particularly noteworthy is the change in the number of people employed in the nonfarm sector from ADP, which has fallen more than expected. This decline against the background of very weak expectations from the US employment market and the overall growth of risks is a very negative factor for the US currency.

Fig. 1.  ADP nonfarm employment change chart

 

Negative statistics for the United States corresponds to normal deviation and does not act as a significant collapse of one or another indicator. The general political and trade pressure puts more pressure on the US currency, but the dynamics of the American dollar continue to be limited by the uptrend. Thus, the US dollar index maintains an upward dynamic, where significant support is located at levels: 96.90-80 and 96.60-50.

Fig. 2. The US dollar index chart. The current price is 96.90 (10-year government bonds yield is the blue line)

Read also: “The economy of Mexico – it’s time to pay attention to the Mexican peso”

Hanzenko Anton

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