Bullish Sentiment for Dollar - US Economic Events Surprises

Sep 6 – Economic Events Outlook – ADP Non-Farm Employment Change In Focus

Posted Thursday, September 6, 2018 by
Arslan Butt • 1 min read

Just like Tuesday, the market is likely to remain volatile today on the back of the Canadian trade balance, and monetary policy event as well as the UK’s services PMI. Take a look…

Watchlist – Key Economic Events Today

 

USD – ADP Non-Farm Employment Change
The Automatic Data Processing, Inc. will be releasing the ADP Non-Farm Employment Change at 13:15 (GMT). It’s an estimated change in the number of employed people during the previous month, excluding the farming industry and government. In April, ADP reported a robust gain of 219k jobs while a lower gain of 188k jobs is predicted for September.

 

USD – ISM Non-Manufacturing PMI
Throughout the second quarter of 2018, the US services PMI figure has remained quite mixed. In August, the figure surprised the market with a massive drop from 59.1 to 55.7 to drive an amazing fluctuation in the market. Anyway, the services PMI is expected to rise from 55.7 to 57 to keep the dollar supported.  Follow FX Leaders economic calendar for the live coverage of ISM non-manufacturing PMI.

 

USD – Crude Oil Inventories
Today at 16:00 (GMT), the Energy Information Administration is due to release the stockpile report. For your information, it shows a change in the number of barrels of crude oil held in inventory by commercial firms during the past week. Economists are expecting a draw of -2.2M in crude oil inventories which is a sort of bullish figure when compared with -1.200M draw reported by American Petroleum Institue.

Well, that’s for now, stay tuned to FX Leaders economic calendar for real-time coverage of news and trade levels.

 

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About the author

Arslan Butt is our Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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