The US dollar was seen taking a break following the previous sessions which saw the greenback posting some gains. Lack of any clear market moving events from the US yesterday saw investors in a holding pattern, ahead of today’s private payroll numbers.
In the UK, the construction PMI was weak, falling to 48.1. This was below forecasts of 51.1 and weakened from the same level from a month ago. The data marked a contraction in the construction sector for the first time since the July 2016 Brexit vote.
Looking ahead the ADP/Moody’s private payrolls data will be the main event for the day. Economists forecast that private payroll hiring rose 131k for the month of September, after an initial payroll print of 237k in August. With the hurricanes hitting the US shores last month, the possibility of a weaker jobs print is quite a possibility.
Among the central bank speeches today, the ECB president Mario Draghi and the Fed Chair, Janet Yellen will be speaking closer to the evening.
