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Breaking news

Fed Leaves Rates, QE Unchanged, FOMC Sees 2 Rate Hikes in 2023

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

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

Christopher Vecchio, CFA, Senior Strategist

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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