Daily Forex Commentary for July 2, 2009

July 2nd, 2009 • Related • Filed Under




July 2, 2009

ADP Report Weakens Dollar Ahead of U.S. Non-Farm Payroll Number

The U.S. Dollar felt pressure overnight on Tuesday because of stronger Asian and European stock markets and struggled even more after the release of the ADP Employment Services Report.

The move into equities triggered more demand for higher yielding assets and kept pressure on the low yielding U.S. Dollar. The move was a surprise because of Thursday’s U.S. Unemployment Report. Some traders felt the rally was overdone because of thin trading conditions ahead of the report.

<P …
Read More …

Random Posts

Post a Response

  • Polls

    How Has The U.S. Recession Affected You?

    View Results

    Loading ... Loading ...
    • Improve the web with Nofollow Reciprocity.