String of US data beats down the USD

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Throughout Wednesday's trading, the US Dollar has been declining due to a string of worse than forecast or at forecast data.

At 12:15 GMT, the US ADP Non-Farm Employment Change revealed that ADP has calculated 150,000 new jobs created in the US over the last month instead of the market expected 163,000. This started a decline, which by 14:00 GMT had reached 30 base points.

At 12:30 GMT, the US weekly Unemployment Claims came almost at the forecast. Markets expected new claims to be at 234,000, but actual numbers was 238,000. Due to this reason, the decline of the USD continued.

Most recently, at 14:00 GMT the Institute for Supply Management Services sector Purchasing Managers Index survey results came in. The survey revealed that the sector has experienced a decline. A PMI above 50 shows growth of a sector. Markets expected the PMI to come in at 52.6. However, actual number was 48.8. The news added new momentum to the already ongoing decline.
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