ADP Report Data Had Little Support for the US Dollar
The US dollar is trading mixed against major currencies after the release of economic data. The British pound and the Australian dollar remain the weakest major currencies. The Japanese yen is trading steadily against the major European currencies.
The ADP report showed an increase in the number of jobs in the private sector of the US by 190.000 in November. Non-farm productivity was completed at 3.0% in the third quarter. Retail PMI in the Eurozone rose to 52.4. German factory orders increased by 0.5% in October.
The Australian dollar weakened after the release of economic data. Australia's GDP grew by 0.6% in the third quarter compared to the previous quarter and 2.8% yoy, below expectations of 0.7% quarter-on-quarter, and 3.0% yoy. Consumer spending rose just 0.1% compared to the previous quarter and was the lowest rate in more than a decade since 2005.