Forex Market ADP Report

FX market focus on tomorrow Non-farm payrolls after ADP report gave a positive picture

News and Events:

The US dollar continued its recovery of the past ten days on Wednesday, helped by very good private sector jobs report for July and ongoing efforts from central bank officials to ease stress in financial markets. But this gain has been limited by a $4 a barrel rebound in crude oil prices after data showed an unexpected decline in US gasoline inventories last week.

Forex is focusing on tomorrow non-farm payrolls. Despite the positive employment picture from ADP Employer Services report, few analysts believe market may reverse gains on Friday's non-farm payrolls report.

Steps by the Federal Reserve, the European Central Bank and their Swiss counterpart to extend liquidity offers investment banks through January 2009 and introduce a new term auction facility also contributed to overall positive sentiment on the Dollar.

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