Dollar remains soft as traders are awaiting the market moving non-farm payroll report today and is vulnerable to more downside against Euro and Swissy. Markets were expecting NFP to show 190k expansion in the US job market in May with unemployment rate down to 8.9%. But such expectations were adjusted lower after the disappointing ADP private report. The ADP report showed just 38k job growth in the private sector in May, which was the lowest number since last September. Adding around 50k deviation, the NFP number we’re getting today wound be slightly below 90k indeed. Another sign of weakness is the job market is that ISM manufacturing employment component dipped to 58.2 in May too, which was the worst number this year so far. Initial jobless claims also stayed above 400k level throughout May.

Similar Posts:

• Strong Non-Farm Payroll Anticipated, Aussie to Gain Most?
• Mid-Day Report: Swiss Franc and Yen Jump after Poor ADP Job Data
• Mid-Day Report: Dollar Tumbles on Poor Non-Farm Payroll Growth, Rise in Unemployment Rate
• Forex News Trading Plan US ISM Manufacturing PMI
• GBP/USD: Trading the U.K. Jobless Claims Report