Good Afternoon
The US private ADP
Employment numbers were released this morning coming in below predictions at
135,000, Non Manufacturing PMI was also
released and came in slightly higher than predicted at 53.7 which did not cause
a large change. In Canada Building Permits were released and were better than
predicted at 10.5%
which surprisingly was ignored by the currency market, USD.CAD actually went higher passing the overnight highs before moving closer to the levels
that started the day.
The Euro strengthened throughout the morning and as the
afternoon approaches the currency pair has already started to move back to the level that
it started the day at. The
Euro market will now get ready for the release of interest rate policy from
both the European Central Bank and the Bank of England.
With the most important data being released this week in the
Employment Numbers there is not much movement in the market with the market
range bound with only occasional spikes out of this range.
Yonah
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