Graphic Rewind: US Dollar Touches a 2-Week High After Employment Report
- US Dollar touches an existing 2-week high after ADP
- Euro-zone record high unemployment doesn’t faze Euro traders
A look back at the past 24 hours of Forex trading using movements in the US Dollar Index:
US Dollar 15-Minute 12:00 01/07 to 12:00 01/08 EST
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The Dow Jones FXCM Dollar index touched an existing 2-week high in Wednesday’s trading on a better than expected US ADP employment release.
The US Dollar rebounded from a daily low at the end of yesterday’s session and then traded in a 15 point range over a quiet overnight Asian session. The consolidated trading continued through the first half of the London session, unflapped by the Euro-zone unemployment rate for November reported unchanged from an all-time high, as expected.
The greenback then flew higher at the start of the NY session on a significantly better than expected ADP employment change release, which many traders may use as an indicator of this Friday’s release of the Non-Farm Payrolls change for December.
Charts created by Benjamin Spier using Marketscope 2.0
-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to email@example.com .
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.