ADP Nonfarm Employment Change (Mar) declines to 189 K , below expectations 225 K , and ISM Manufacturing PMI (Mar) falls to 51.5 , below expectations 52.5 .
This development is likely to weaken the US dollar and bring limited losses , let’s see market impact over majors :
EURUSD : The key support 1.0712 was saved by German data today , US data also supports the pair , a consolidation is likely within 1.0712/1.0855 range….
GBPUSD : The was also saved by UK manufacturing data today , US data add more power to the pair to move higher , sideways move within 1.4754/1.4870..
USDJPY : Sideways move within 119.58/120.16 range is likely , buy on dips……..
USD-INDEX : Limited losses above the 97.45/98.16 levels , buy on dips …