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Forex Flash: Today's market focus on US data- BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that today´s market action will be focus on US jobs data, including the ADP report and ISM Manufacturing.

They write, “March ADP jobs is expected at +200k vs. +198k in February. The employment component in the otherwise disappointing ISM manufacturing report rose to 54.2 from 52.6 in February, and was the highest since June 2012. “ They feel that market consensus is hovering around +199k for nonfarm payrolls vs. +236k in February. Additionally, they add that ISM non-manufacturing report also due out, expected at 55.5 vs. 56.0 in February. They write, “Overall, we continue to look for a modestly improving economic backdrop in the US that may allow the Fed to taper off its bond purchases late in the year. For now, however, it’s steady as she goes for QE.”

Forex Flash: European outlook remains gloomy - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that gloomy activity data has continued this week with the release of the Manufacturing PMI data on Tuesday and a jump in the February euro area unemployment rate to 12%.
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Forex: GBP/USD presses higher on US session with BoE tomorrow

Ahead of the ADP employment data in the US, the GBP/USD began its quest towards further upside, breaching above 1.5120 and climbing to 1.5140 zone. The jobs report was expected to rise from 198K to 200K in March, but February data was revised much higher, to 237K, and the March figure disappointed at 158K. The US ISM non-manufacturing PMI is next, with a slight drop from 56.0 to 55.8 expected. Now, ahead of the US ISM non-manufacturing PMI (expected slight drop from 56.0 to 55.8), the pair is extending gains.
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