Global macro overview for 03/08/2016:
The ADP employment data is scheduled for release at 12:15 pm GMT, and it can be a good indicator of the Friday's NFP payrolls figure. The market participants expect the number to be 171K, just 1K more than a month ago. The ADP's data has been relatively stable, so we may conclude that the number of newly employed people on the US job market has been doing quite well so far. The question remains whether the government figure on Friday will at least match the ADP figures after surprisingly good last NFP report (287K vs. 175K expected).
Now let's take a look at the US Dollar index technical picture on the daily time frame. The market reversed after hitting the golden trend line around the level of 97.60 and currently is trading around the 200 DMA at 95.05. The technical support at 95.32 has been violated, so the next support is seen at 94.28.
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