The USD is mixed, repeating a familiar theme of a strong GBP and growth currencies but weak Europeans. Today’s focus will Chair Yellen’s 11am EST lecture on financial stability at the IMF; which will be followed at 11:30am EST by a conversation between Chair Yellen and Christine Lagarde. There could be several market takeaways, with the bias likely for a weaker USD. Also today is the release of ADP employment, where consensus expects job gains of 205k (see chart), leading into tomorrow’s nonfarm payrolls, expected to show gains of 215k.
Read the full report: FX Daily