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US Dollar Looks to ADP, ISM for Clues Ahead of September NFPs

US Dollar Looks to ADP, ISM for Clues Ahead of September NFPs

2016-10-05 12:00:00
Christopher Vecchio, CFA, Senior Strategist
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Talking Points:

- Difference in weightings in DXY and USDOLLAR underlie differences in performance; stability in EUR/USD since early-2015 main factor.

- USD/JPY breaking out from downtrend dating back to December 2015.

- See the DailyFX economic calendar for the week of October 2 to October 7.

There are several pieces of US economic data on the docket today that will, collectively, have a material impact on expectations for Friday's September US Nonfarm Payrolls report release. While not leading indicators - contemporaneous, if anything - the US ADP Employment report and the US ISM Services/Non-Manufacturing report's Employment subindex will offer significant clues for what to expect on Friday.

See the video (above) for technical considerations in EUR/USD, GBP/USD, USD/JPY, EUR/JPY, GBP/JPY, EUR/GBP, and the USDOLLAR Index.

Read more: GBP/USD at Fresh Lows Post-Brexit Vote as Reality Crashes Down

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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