US Dollar Remains Unstable After ADP Employment Report
The US dollar remains volatile after the ADP employment report. Data from Automatic Data Processing (ADP) showed that the growth rate of employment in the US private sector slowed down in September less than expected. According to the report, the number of employed increased by 135 thousand in September. Analysts had expected the number of employees to increase by 130.000.
The British pound is trying to recover after better than expected data on the Services PMI. The UK Services PMI rose to 53.6 in September from the 11-month low of August (53.2). Economists had expected the index to remain stable at 53.2.
Economic data of the Eurozone showed that retail sales decreased during the second month in a row in August. The volume of retail sales fell by 0.5% compared to the previous month in August, after a decrease of 0.3% in July. Economists were expecting 0.3 percent growth in a month.