The Return of the Dollar with ADP Nonfarm Stats in Focus

Daily Update - 30th August 2017

Yesterday’s Focus

•                  US Consumer Confidence

Yesterday’s Explained

In the US session, the dollar gained some ground, also thanks to a high level of consumer confidence. The greenback gradually reasserted itself and EUR/USD climbed down from the highs, eventually slipping under 1.20. In any case, this is good news that sends the US dollar slightly higher.

CB Consumer Confidence came out at 122.9 points, better than expected and higher than 120 points in July, according to the revision.

Today’s Focus

•             GBP  Mortgage Approvals & Inflation Report Hearings

•             EUR Services Sentiment, Industrial Confidence and Economic Sentiment Indicator

•             US ADP Employment Change & Gross Domestic Product Annualized

Today’s Market

Quite a busy day in terms of economic data. First up we will see Mortgage Approvals from UK. Then the focus shifts to Inflation Report hearings from UK. By midafternoon the focus shifts to Euro zone with the release of few economic indicators such as Services Sentiment, Industrial Confidence and Economic sentiment indicator.

By Evening we will see, ADP Employment Change report from USA which is a measure of the change in the number of employed people in the US. Finally the day will end with GDP Annualized which shows the monetary value of all the goods, services and structures produced within a country in a given period of time.