The U. S. dollar gained against the yen on Wednesday for the first time in four days after a report showed U. S. private sector employers created more jobs than expected in March, suggesting a stable labor market and supporting forecasts for at least two more interest-rate hikes this year The greenback also rose against the euro and Swiss franc while trimming losses against the pound after the employment data.
The UK services PMI for the month of March was released today beating estimates and coming at a three-month high. The news was welcomed, especially after manufacturing and construction PMIs fell short of expectations earlier in the week. The services sector is the prime contributor to UK Gross Domestic Product.
USD/CAD has taken a pause on Wednesday, as the pair trades slightly below the 1.34 line. On the release front, there are no Canadian events. In the US, ADP Nonfarm Payrolls as well as the ISM Non-Manufacturing PMI. As well, the Federal Reserve releases its minutes from the March policy meeting. On Thursday, the US releases the weekly unemployment claims report.
Next trading day's important events
- USDJPY: 111.16
- EURUSD: 1.0662
- S&P 500: 2376.13
- NASDAQ: 5927.85