NZD is the strongest. EUR is the weakest.
The NZD and the AUD are the strongest currency in trading today. The EUR is the weakest. The EUR fell despite higher retail sales (+1.1% vs +-0.2%). The Markit Service PMI final cut was weaker at 53.7 vs 53.9 but up from the previous month (52.7). The currency got hit the hardest after the UK Service PMI dipped to 56.7 vs 57.5 estimate (last 57.2). Although the UK data was weaker from a estimate front, the difference between the two (53.7 for the EU vs 56.7) highlights the disparity (or so it seems at least).
The focus will shift to the US and more specifically the US employment report. The ADP employment report will be released at 8:15 AM with an estimate of 219K vs 213K last month. The US Non Manufacturing data will also be released. Traders will have an eye on the employment component. The Manufacturing ISM showed that employment fell from 54.1 to 51.4. This was the lowest reading since June 2013.
