"The dollar index edged slightly lower on Thursday, correcting after reaching a five-month high as robust US economic data and a cautious Federal Reserve tone could continue to support the currency. Treasury yields also retreated modestly after a jump yesterday, with the 10-year holding above 4.10% after touching a one-month peak in the prior session. Data released Wednesday painted a resilient picture."
"The ADP report showed private employers added 42,000 jobs in October, above forecasts and reversing September's decline, while the ISM Services PMI climbed to 52.4, its strongest reading since February. Business activity and new orders surged, though the employment component remained in contraction at 48.2, suggesting persistent labour-market softness within the services sector. Following the data, markets trimmed expectations for another rate cut this year,"
The dollar index edged down slightly after hitting a five-month high, while Treasury yields retreated modestly with the 10-year remaining above 4.10% following a recent peak. US data showed resilience: ADP reported private employers added 42,000 jobs in October, reversing September's decline, and the ISM Services PMI rose to 52.4, its strongest reading since February. Business activity and new orders surged, though the services employment component stayed in contraction at 48.2, indicating ongoing labour-market softness within services. Markets pared expectations for further rate cuts this year, and upcoming Fed comments could reinforce the dollar and yields.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]