Fundamental analysis for May 05, 2016

May 5, 2016

The dollar managed to recover when traders started to take profits before Non-Farm release. The USA published ADP Employment Change (156K vs. the forecast 196K). Non-Manufacturing PMI from ISM came in at 55.7 vs. the forecast of 54.7.

The latest Eurozone data showed a strong production growth in April (Markit Composite PMI 53.0, in the line with the expectations).

The British pound decreased on Wednesday and the pair lost more than 200 points. PMI Construction in the UK Britain fell in April to 52.0 (three-year low) from the previous 54.2. The index fell even though the general business activity index is in the “green zone”.

The USD/JPY is still low volatile amid the day off in Japan.

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