fxstreet.com 03 Feb, 2021 14:30 am

ISM Services Purchasing Managers' Index December Preview

ISM Services Purchasing Managers' Index December Preview
The US employment recovery is threatening to grind to a halt under the impact of California's strict lockdown and more moderate restrictions in other ...

2 reading in October, it was the highest level since July 2019.1, matching the October score and the highest level in 16 years.The EUR/USD rose to its highest level in two-and -a -half years on Wednesday, capping a 6% gain since November 2, as the faltering US labor market punished the greenback.Given the performance of other labor market statistics the 100,000 estimate for Friday's December payrolls has to be considered optimistic.

Since the original collapse in March the labor market has been the key to the US economy and the dollar.Initial Jobless Claims have climbed almost 100,000 in a month from an average of 740,000 in November to 837,000 in December and are expected to maintain at 833,000 in the first week of January when released on Thursday.

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