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  • Heads Up:🇨🇳 Caixin Services PMI (APR) due at 01:45 GMT (15min) Previous: 54.3 https://www.dailyfx.com/economic-calendar#2021-05-07
  • Heads Up:🇨🇳 Caixin Composite PMI (APR) due at 01:45 GMT (15min) Previous: 53.1 https://www.dailyfx.com/economic-calendar#2021-05-07
  • The US Dollar still remains under pressure against most ASEAN currencies heading into May. A busy week awaits the Indonesian Rupiah, Thai Baht, Philippine Peso and Singapore Dollar. Get your market update from @ddubrovskyFX here:https://t.co/Ed95511S7Y https://t.co/nhdUL1jlaI
  • Heads Up:🇦🇺 RBA Statement on Monetary Policy due at 01:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-07
  • The US Dollar still remains under pressure against most ASEAN currencies heading into May. A busy week awaits the Indonesian Rupiah, Thai Baht, Philippine Peso and Singapore Dollar. Get your market update from @ddubrovskyFX here:https://t.co/Ed95511S7Y https://t.co/R9U2jLoAD3
  • #NOK #NZD and #AUD are expected to be the most-active #G10 FX against the US Dollar with one-week implied volatility at 11.20, 9.05 and 9.05 respectively [delayed] -BBG
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  • Heads Up:🇦🇺 Ai Group Services Index (APR) due at 22:30 GMT (15min) Previous: 58.7 https://www.dailyfx.com/economic-calendar#2021-05-06
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower. Get your market update from @ddubrovskyFX here:https://t.co/6Nvvmz8h6d https://t.co/dX69A341oc
  • US Dollar Outlook: USD/CAD Volatility to Rise, Jobs Data Looms -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2021/05/06/us-dollar-outlook-usd-cad-volatility-to-rise-jobs-data-looms.html #NFP $DXY $USDCAD https://t.co/OIYZ2YXxLK
Webinar: Live Event Coverage: US ISM Non-Manufacturing PMI

Webinar: Live Event Coverage: US ISM Non-Manufacturing PMI

Martin Essex, MSTA, Analyst

Talking Points

- The US ISM non-manufacturing PMI came in lower than expected.

- However, the release still suggested robust economic growth in the US.

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

The Institute for Supply Management’s purchasing managers’ index for the non-manufacturing sectors of the US economy in March came in at 55.2, below both the predicted 57.0 and the previous month’s 57.6. That followed the equivalent manufacturing report released earlier this week, which also suggested a slowdown in March.

Nonetheless, taken together, the numbers still imply only a modest setback in the first quarter and an economy still growing robustly. That, in turn, implies that the rate-setting Federal Open Market Committee is still on course to increase rates several times this year, to the benefit of the US Dollar. Moreover, the US labor market remains unusually strong, judging by the latest ADP National Employment Report released ahead of Friday’s official non-farm payrolls data.

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@ig.com

Follow Martin on Twitter @MartinSEssex

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