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Markets look towards US ADP jobs data for indication on direction of Friday 8217 s non farm figures

Article By: ,  Financial Analyst
March 5, 2014 9:13 AM

Day three and we have a bit of a standstill, with the threat of a Russian invasion still on the cards but only as a last resort. As a result, there will be more of the same today as tensions ease and comments like last resort and talks hit the wires.

The Aussie has had a better start to trading after an uptick in Australian GDP to 0.8% from the last reading of 0.6%. It is still, however, weighed down from earlier comments in the week from the RBA about the rate being too high, and Russia-Ukraine tensions.

There is more PMI data out today, with Europe and UK figures set to be released in line with expectations. The main news today will probably be the ADP data which normally gets the markets active. The link to a strong or weak non-farm payroll on Friday – the number is expected to be lower than last time at 159k mainly due to the weather. Any rise in this data could be seen as coming out of the bad weather excuse and back to normal releases. Only time will tell.

 

EUR/USD

Supports 1.3720 1.3680 1.3640 | Resistance 1.3750 1.3780 1.3825

 

USD/JPY

Supports 101.85 101.55 101.20 | Resistance 102.35 102.50 102.85

 



GBP/USD

Supports  1.6640 1.6580 1.6525 | Resistance 1.6700 1.6730 1.6770

 

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