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US Inflation and Labour Data in Focus Amid Dollar Volatility

Tuesday is a little quieter when it comes to economic data releases. Focus will shift across the Atlantic and US data. A mix of labour data and inflation levels will be announced around 1pm. First out we have ADP jobs data. This is announced on a weekly basis. We did see a slow performance last week for non-farm payroll, not injecting the additional jobs that markets were hoping for. Can we see a continuation today effecting ADP figures?

As well we will see core inflation and inflation levels being announced from the US too, shortly after. Expectations is that levels should not see a large change from its previous month, with inflation levels forecasted to be unchanged at 2.7%, while core inflation is expected to see a rise of 0.1% to a total of 2.7%. This should not affect market much, if numbers are as expected. In hindsight, we have seen US data releases come out unexpected recently and if we do see that outcome for inflation levels, we could see movement for USD pairs. The recent volatility on the USD, after FED Chair Jerome Powell is under investigation from the Justice department, we have seen USD weakness since markets opened Monday morning. Poor readings could fuel further USD weakness and is worth keeping an eye on readings when released.

GBP/EUR 1.1531 GBP/USD 1.3461 GBP/AED 4.9468
GBP/AUD 2.0083 GBP/CHF 1.0744 GBP/CAD 1.8683
GBP/NZD 2.3358 EUR/USD 1.1658 GBP/ZAR 22.1243

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