Dollar Falls as ADP Report Shows Weakness in Labor
The dollar gauge traded weaker Tuesday as the ADP Research data showed the labor market lost momentum in mid-October. The Canadian dollar was outperforming peers in the Group of 10 against the greenback.
The Bloomberg Dollar Spot Index traded 0.1% weaker.
US companies shed 2,500 jobs per week on average in the four weeks ended Nov. 1, according to data released Tuesday by ADP.
Earlier on Tuesday, data showed initial jobless claims totaled 232,000 in the week ended Oct. 18, according to US Labor Department website showing historical data for claims.
The September jobs report will be released on Thursday and the September consumer price index is now scheduled for publication on Friday.
USD/JPY fell 0.1% to 155.15; Japan’s Finance Minister strengthened her warning over the yen’s slide as the currency fell past the 155-per-dollar level.
AUD/USD climbed 0.3% to 0.6510; minutes of the Reserve Bank of Australia’s latest meeting showed the central bank remains cautious and data dependent.
EUR/USD ticked up 0.1% to 1.1598.
GBP/USD declined slightly, trading near 1.3155.
Source: Bloomberg.com