The US dollar is rising after ADP’s jobs report showed employers adding 216,000 new workers in October, well above the 165,000 that analysts expected. Tomorrow morning we’ll see the US’ weekly jobless claims, November’s manufacturing activity, and October’s construction spending data.
Across the Atlantic, the pound is slightly down after this morning’s financial stability report and bank stress tests showed at least three major UK banks carried lower capital levels and higher risk than required by the Bank of England. We’ll see the UK’s manufacturing activity results for November out tomorrow morning.
The euro is also trading slightly lower against a rising US dollar even as a slew of inflation and retail sales results out of the Eurozone were on par with analyst expectations. Tomorrow morning will showcase the latest manufacturing activity readings from Portugal, Italy, France, Germany, and the Eurozone region as a whole.
Closer to home, the Canadian dollar is climbing as oil prices are up 7% this morning after an Iran oil minister said an OPEC output reduction deal may be possible. The loonie is also getting a lift from stronger-than-expected raw and industrial good inflation growth in October. Tomorrow brings November’s manufacturing activity readings for the country.
In the Pacific, the Australian dollar is falling after last night’s disappointing building permits results for October. The Japanese yen continues to weaken against the US dollar tied to its relatively stronger economy.
EURUSD: The euro is down against a strengthening US dollar with no inflation or retail sales surprises out of the Eurozone.
GBPUSD: The pound is dipping after the BoE stress test showed some major banks missing capital targets.
AUDUSD: The Aussie dollar is down after last night’s disappointing building permits report.
USDCAD: The Canadian dollar is up on spiking oil prices.