The dollar has edged higher against a basket of currencies this morning, receiving some support due to its ‘safe haven’ status.
ADP employment data for the US, released yesterday, showed that private businesses unexpectedly cut 301,000 workers in January, the first job loss since December of 2020 and the biggest since April 2020. This was due to the prevalence of the Omicron variant and missed expectations of a 207,000 growth.
The markets will have all eyes on Friday’s non-farm payrolls to find out if a similar loss has been seen in the public sector.
Later today, ISM manufacturing PMI will be released as well as jobless claims figures.
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