The US Dollar was recovering as investors await Friday’s release of one of the biggest market movers—the Non-Farms Payroll Report. September’s report for new, private sector jobs is expected to show a significant fall to 98,000 new jobs, down from 156,000 reported in August. The unemployment rate is expected to remain stable at the current 4.4%. Any disappointment in the outcome, a larger decline or even hitting the mark given the forecast drop, could further weigh on the greenback as it could leave the Fed without a clear outlook as regards the final rate increase for 2017.
As reported at 9:44 am (JST) in Tokyo, the USD/JPY was trading at 112.834 Yen, a gain of 0.04%; the pair is off the session peak of 112.920 Yen. The AUD/USD is down 0.32% and trading at $0.7835; the pair has ranged from a session low of $0.78270 while the peak is at $0.78655.
Data Helped Changed USD Momentum
Earlier today, ADP reported that the employment change for September was 135,000 new jobs in the private sector, up from the 125,000 predicted by analysts. August’s figures were revised downward from 237,000 to 228,000 new jobs. Market players tend to use the ADP data as a gauge for the federal government’s Non-Farms Report. Also today, the ISM non-manufacturing PMI report came in at 59.8, well above the 55.3 expected. Market services sector PMI was also unexpectedly upbeat with a reading of 55.3, just above the 55.1 forecast.